Short Interest in Healthcare Triangle, Inc. (NASDAQ:HCTI) Declines By 85.6%

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the recipient of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 102,611 shares, a decrease of 85.6% from the February 26th total of 714,560 shares. Approximately 14.0% of the company’s stock are sold short. Based on an average daily volume of 261,466 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 261,466 shares, the short-interest ratio is currently 0.4 days. Approximately 14.0% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Healthcare Triangle in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Healthcare Triangle Trading Down 10.3%

HCTI stock traded down $0.30 during midday trading on Tuesday, hitting $2.62. 74,090 shares of the company traded hands, compared to its average volume of 1,199,678. Healthcare Triangle has a twelve month low of $2.46 and a twelve month high of $7,470.00. The business has a 50 day simple moving average of $10.04 and a 200-day simple moving average of $87.96.

Healthcare Triangle announced that its board has initiated a stock buyback program on Wednesday, March 11th that permits the company to buyback $2,000.00 billion in shares. This buyback authorization permits the company to repurchase up to 100,000,000% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC acquired a new position in shares of Healthcare Triangle during the third quarter valued at about $26,000. Jane Street Group LLC bought a new stake in shares of Healthcare Triangle in the second quarter valued at about $33,000. Finally, XTX Topco Ltd acquired a new stake in Healthcare Triangle during the second quarter worth about $69,000. Institutional investors own 0.33% of the company’s stock.

About Healthcare Triangle

Healthcare Triangle, Inc (NASDAQ: HCTI) is a specialized digital transformation and cloud consulting firm focused on the healthcare industry. The company delivers a range of professional and managed services that help healthcare organizations modernize their IT infrastructure, optimize data workflows and achieve regulatory compliance.

Its core offerings include cloud architecture design and implementation, enterprise data platform development, application modernization and managed IT operations.