Healthcare Triangle, Inc. (NASDAQ:HCTI) Short Interest Update

Healthcare Triangle, Inc. (NASDAQ:HCTI) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 379,248 shares, an increase of 140.4% from the April 30th total of 157,727 shares. Based on an average trading volume of 412,027 shares, the days-to-cover ratio is currently 0.9 days. Currently, 18.7% of the shares of the company are short sold.

Institutional Trading of Healthcare Triangle

Several institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in Healthcare Triangle during the 2nd quarter valued at approximately $69,000. Jane Street Group LLC purchased a new position in Healthcare Triangle during the 2nd quarter valued at approximately $33,000. Finally, Private Advisor Group LLC purchased a new position in Healthcare Triangle during the 3rd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 0.33% of the company’s stock.

Healthcare Triangle Price Performance

Shares of NASDAQ:HCTI remained flat at $2.58 during trading on Monday. The company had a trading volume of 36,821 shares, compared to its average volume of 546,984. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.90 and a current ratio of 0.90. Healthcare Triangle has a 12-month low of $2.06 and a 12-month high of $1,299.78. The firm has a 50-day moving average of $2.44 and a 200-day moving average of $36.74. The firm has a market capitalization of $5.24 million, a P/E ratio of -0.04 and a beta of 1.04.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Healthcare Triangle in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Healthcare Triangle currently has an average rating of “Sell”.

Healthcare Triangle Company Profile

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.