Healthcare Triangle, Inc. (NASDAQ:HCTI) Short Interest Down 77.9% in January

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 118,724 shares, a drop of 77.9% from the December 31st total of 536,611 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily volume of 1,160,522 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 1,160,522 shares, the days-to-cover ratio is currently 0.1 days. Approximately 2.0% of the shares of the company are sold short.

Healthcare Triangle Stock Performance

NASDAQ HCTI traded down $0.04 during trading on Friday, reaching $0.26. 11,114,665 shares of the company traded hands, compared to its average volume of 23,173,078. The stock’s 50 day moving average price is $1.25 and its two-hundred day moving average price is $2.72. Healthcare Triangle has a 1-year low of $0.25 and a 1-year high of $218.12. The company has a market cap of $1.53 million, a price-to-earnings ratio of 0.00 and a beta of 0.93.

Healthcare Triangle (NASDAQ:HCTI) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.20). The company had revenue of $3.49 million during the quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HCTI. Wall Street Zen downgraded Healthcare Triangle from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Trading of Healthcare Triangle

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC purchased a new stake in Healthcare Triangle during the third quarter valued at $26,000. Jane Street Group LLC purchased a new position in shares of Healthcare Triangle in the 2nd quarter worth $33,000. Finally, XTX Topco Ltd purchased a new stake in Healthcare Triangle during the 2nd quarter valued at $69,000. Institutional investors own 0.33% of the company’s stock.

Healthcare Triangle Company Profile

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.