CareCloud (NASDAQ:CCLD) Stock Rating Lowered by Roth Capital

CareCloud (NASDAQ:CCLD) was downgraded by Roth Capital from a “strong-buy” rating to a “hold” rating in a research note 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 lowered their price objective for the stock from $5.00 to $3.50 in a research report on Wednesday. Benchmark raised their price target on CareCloud from $4.00 to $4.50 and gave the company a “buy” rating in a report on Tuesday, August 27th.

CareCloud Trading Down 2.3 %

Shares of CareCloud stock opened at $2.56 on Wednesday. The company’s 50-day moving average price is $2.54 and its 200-day moving average price is $2.36. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.12. CareCloud has a 12-month low of $0.68 and a 12-month high of $3.88. The company has a market cap of $41.50 million, a price-to-earnings ratio of -0.80 and a beta of 1.37.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in CareCloud stock. Heron Bay Capital Management lifted its position in CareCloud, Inc. (NASDAQ:CCLD) by 126.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,576 shares of the company’s stock after purchasing an additional 19,329 shares during the quarter. Heron Bay Capital Management owned 0.21% of CareCloud worth $66,000 at the end of the most recent quarter. 10.16% of the stock is owned by 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.