CareCloud’s (CCLD) “Buy” Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of CareCloud (NASDAQ:CCLD) in a research report released on Friday morning,Benzinga reports. Benchmark currently has a $4.50 price target on the stock.

Several other research firms have also recently weighed in on CCLD. Roth Mkm cut shares of CareCloud from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $3.50 in a report on Wednesday, November 13th. Roth Capital lowered CareCloud from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th.

CareCloud Price Performance

CCLD stock opened at $2.47 on Friday. The stock has a market cap of $40.11 million, a price-to-earnings ratio of -0.77 and a beta of 1.37. The company has a fifty day moving average price of $2.54 and a two-hundred day moving average price of $2.38. CareCloud has a one year low of $0.68 and a one year high of $3.88.

Hedge Funds Weigh In On CareCloud

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new position in shares of CareCloud in the 3rd quarter valued at $42,000. Heron Bay Capital Management raised its stake in CareCloud by 126.8% during the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock worth $66,000 after acquiring an additional 19,329 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of CareCloud by 25.1% in the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock worth $206,000 after acquiring an additional 21,500 shares during the last quarter. 10.16% of the stock is owned by institutional investors.

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.