Roth Capital Downgrades CareCloud (NASDAQ:CCLD) to Hold

CareCloud (NASDAQ:CCLD) was downgraded by stock analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other brokerages also recently issued reports on CCLD. Roth Mkm downgraded CareCloud from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $5.00 to $3.50 in a research note on Wednesday. Benchmark boosted their price target on shares of CareCloud from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Tuesday, August 27th.

CareCloud Stock Down 2.3 %

CareCloud stock opened at $2.56 on Wednesday. CareCloud has a fifty-two week low of $0.68 and a fifty-two week high of $3.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.01 and a current ratio of 1.03. The firm’s 50-day simple moving average is $2.54 and its 200 day simple moving average is $2.36. The stock has a market cap of $41.50 million, a PE ratio of -0.80 and a beta of 1.37.

CareCloud (NASDAQ:CCLD) last announced its earnings results on Tuesday, August 13th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. The firm had revenue of $28.09 million for the quarter, compared to the consensus estimate of $27.89 million. CareCloud had a negative return on equity of 90.27% and a negative net margin of 35.25%. Research analysts predict that CareCloud will post 0.58 EPS for the current fiscal year.

Institutional Trading of CareCloud

A hedge fund recently raised its stake in CareCloud stock. Heron Bay Capital Management increased its position in CareCloud, Inc. (NASDAQ:CCLD) by 126.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 34,576 shares of the company’s stock after acquiring an additional 19,329 shares during the quarter. Heron Bay Capital Management owned about 0.21% of CareCloud worth $66,000 as of its most recent SEC filing. 10.16% of the stock is owned by hedge funds and other 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.