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

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

Other equities research analysts have also recently issued reports about the stock. Roth Mkm cut shares of CareCloud from a “buy” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $3.50 in a research 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 Stock Performance

NASDAQ CCLD opened at $2.47 on Friday. CareCloud has a 52-week low of $0.68 and a 52-week high of $3.88. The business has a 50 day simple moving average of $2.54 and a 200 day simple moving average of $2.38. The stock has a market cap of $40.11 million, a price-to-earnings ratio of -0.77 and a beta of 1.37.

Institutional Trading of CareCloud

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in CareCloud during the 3rd quarter worth about $42,000. Heron Bay Capital Management increased its position in shares of CareCloud by 126.8% in the second quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock valued at $66,000 after acquiring an additional 19,329 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of CareCloud by 25.1% in the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock valued at $206,000 after acquiring an additional 21,500 shares during the last quarter. Institutional investors own 10.16% of the company’s stock.

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.