Healthcare Triangle (NASDAQ:HCTI) Posts Earnings Results, Beats Expectations By $1.87 EPS

Healthcare Triangle (NASDAQ:HCTI) issued its quarterly earnings data on Thursday. The company reported ($1.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.43) by $1.87, Zacks reports. Healthcare Triangle had a negative return on equity of 166.88% and a negative net margin of 70.43%.

Healthcare Triangle Stock Performance

Shares of HCTI stock traded up $0.50 during trading hours on Thursday, hitting $1.74. The company’s stock had a trading volume of 44,927,244 shares, compared to its average volume of 219,659. The company has a 50 day moving average of $1.79 and a 200 day moving average of $3.62. The stock has a market cap of $3.53 million, a PE ratio of -0.03 and a beta of 1.11. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.02. Healthcare Triangle has a 12-month low of $1.00 and a 12-month high of $244.80.

Institutional Trading of Healthcare Triangle

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in Healthcare Triangle in the second quarter valued at approximately $69,000. Jane Street Group LLC acquired a new stake in shares of Healthcare Triangle during the 2nd quarter worth approximately $33,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Healthcare Triangle during the 3rd quarter worth approximately $26,000. 0.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Healthcare Triangle in a report on Friday, July 17th. Wall Street Zen upgraded shares of Healthcare Triangle from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

About Healthcare Triangle

Healthcare Triangle, Inc (NASDAQ: HCTI) is a specialized digital transformation and cloud consulting firm focused on the healthcare industry. The company delivers a range of professional and managed services that help healthcare organizations modernize their IT infrastructure, optimize data workflows and achieve regulatory compliance.

Its core offerings include cloud architecture design and implementation, enterprise data platform development, application modernization and managed IT operations.