StockNews.com initiated coverage on shares of CareCloud (NASDAQ:MTBC – Get Rating) in a research report report published on Monday. The brokerage issued a buy rating on the technology company's stock.
Several other research firms also recently commented on MTBC. B. Riley decreased their price target on shares of CareCloud from $11.00 to $8.00 in a research note on Friday, August 5th. Benchmark reduced their price objective on shares of CareCloud to $12.00 in a research report on Monday, August 15th.
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CareCloud Trading Down 7.6 %
Shares of MTBC opened at $4.38 on Monday. The firm's 50 day simple moving average is $4.01 and its 200 day simple moving average is $4.09. The company has a market capitalization of $66.05 million, a P/E ratio of -10.43 and a beta of 1.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.42. CareCloud has a 1-year low of $2.92 and a 1-year high of $8.61.
CareCloud (NASDAQ:MTBC – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The technology company reported ($0.07) EPS for the quarter, topping the consensus estimate 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%. Sell-side analysts forecast that CareCloud will post -0.63 earnings per share for the current fiscal year.
Institutional Trading of CareCloud
Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in CareCloud by 73.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,372 shares of the technology company's stock valued at $36,000 after purchasing an additional 4,407 shares during the last quarter. PDT Partners LLC bought a new position in CareCloud in the 2nd quarter worth about $43,000. Virtu Financial LLC bought a new stake in CareCloud during the 1st quarter valued at $56,000. McDonald Partners LLC grew its position in shares of CareCloud by 13.9% in the 2nd quarter. McDonald Partners LLC now owns 30,226 shares of the technology company's stock worth $104,000 after buying an additional 3,700 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in CareCloud in the second quarter valued at about $122,000. Hedge funds and other institutional investors own 20.97% of the company's stock.
About CareCloud
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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.
Further Reading
- Get a free copy of the StockNews.com research report on CareCloud (MTBC)
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