CareCloud, Inc. (NASDAQ:CCLD) Short Interest Up 991.1% in March

CareCloud, Inc. (NASDAQ:CCLD) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 1,390,000 shares, a growth of 991.1% from the February 28th total of 127,400 shares. Based on an average trading volume of 758,300 shares, the short-interest ratio is presently 1.8 days. Approximately 6.4% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

CCLD has been the topic of several research reports. Roth Capital set a $1.50 price target on CareCloud in a research report on Thursday, March 13th. Roth Mkm reaffirmed a “neutral” rating and issued a $1.50 target price (down from $3.50) on shares of CareCloud in a research report on Friday, March 14th.

Institutional Investors Weigh In On CareCloud

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in CareCloud by 31.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,096 shares of the company’s stock worth $55,000 after purchasing an additional 3,641 shares in the last quarter. XTX Topco Ltd purchased a new position in CareCloud in the third quarter worth about $42,000. Two Sigma Advisers LP bought a new position in shares of CareCloud in the fourth quarter worth approximately $81,000. Empowered Funds LLC grew its holdings in shares of CareCloud by 51.2% during the fourth quarter. Empowered Funds LLC now owns 61,240 shares of the company’s stock valued at $224,000 after buying an additional 20,750 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of CareCloud during the fourth quarter valued at approximately $252,000. 10.16% of the stock is owned by hedge funds and other institutional investors.

CareCloud Stock Down 4.3 %

CareCloud stock opened at $1.54 on Thursday. CareCloud has a twelve month low of $1.01 and a twelve month high of $4.84. The company has a market capitalization of $25.03 million, a P/E ratio of -0.48 and a beta of 1.55. The stock’s 50 day moving average is $3.00 and its 200 day moving average is $2.98.

About CareCloud

CareCloud, Inc, a healthcare information technology (IT) company, provides a suite of cloud-based solutions and related business services to healthcare providers and hospitals primarily in the United States. It operates in two segments, Healthcare IT and Medical Practice Management. The company's portfolio of proprietary software and business services includes technology-enabled business solutions; cloud-based software; digital health services; healthcare IT professional services and staffing; and medical practice management services.