CareCloud, Inc. (NASDAQ:MTBC – Get Rating) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 51,100 shares, a growth of 85.8% from the August 15th total of 27,500 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily volume of 55,400 shares, the short-interest ratio is currently 0.9 days.
Analyst Ratings Changes
A number of research analysts have recently commented on MTBC shares. Benchmark cut their target price on shares of CareCloud to $12.00 in a research report on Monday, August 15th. B. Riley lowered their price objective on shares of CareCloud from $11.00 to $8.00 in a research note on Friday, August 5th. Finally, StockNews.com assumed coverage on shares of CareCloud in a research report on Sunday, September 11th. They set a "buy" rating on the stock.
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CareCloud Trading Down 1.7 %
MTBC traded down $0.09 on Friday, reaching $5.15. 38,610 shares of the company traded hands, compared to its average volume of 110,297. CareCloud has a one year low of $2.92 and a one year high of $8.61. The firm has a fifty day simple moving average of $3.94 and a two-hundred day simple moving average of $4.11. The company has a market cap of $77.66 million, a P/E ratio of -12.26 and a beta of 1.26. The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 0.07.
CareCloud (NASDAQ:MTBC – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.06. The firm had revenue of $37.23 million for the quarter, compared to the consensus estimate of $37.48 million. CareCloud had a net
margin of 6.00% and a return on equity of 8.90%. As a group, equities research analysts expect that CareCloud will post -0.63 earnings per share for the current year.
Hedge Funds Weigh In On CareCloud
Large investors have recently added to or reduced their stakes in the stock. PDT Partners LLC purchased a new position in CareCloud during the second quarter worth about $43,000. Renaissance Technologies LLC acquired a new stake in CareCloud during the second quarter worth approximately $122,000. JPMorgan Chase & Co. grew its position in shares of CareCloud by 73.9% during the second quarter. JPMorgan Chase & Co. now owns 10,372 shares of the technology company's stock worth $36,000 after acquiring an additional 4,407 shares during the last quarter. McDonald Partners LLC grew its position in shares of CareCloud by 13.9% during the second quarter. McDonald Partners LLC now owns 30,226 shares of the technology company's stock worth $104,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Verity Asset Management Inc. purchased a new position in shares of CareCloud during the first quarter worth approximately $208,000. 20.97% of the stock is currently owned by institutional investors and hedge funds.
CareCloud Company Profile
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CareCloud, Inc brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows, and make better business and care decisions. More than 40,000 providers across the United States count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs.
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