Healthcare Triangle (NASDAQ:HCTI) Posts Quarterly Earnings Results, Beats Expectations By $1.87 EPS

Healthcare Triangle (NASDAQ:HCTI) issued its earnings results on Thursday. The company reported ($1.56) earnings per share for the quarter, topping the consensus estimate of ($3.43) by $1.87, Zacks reports. The business had revenue of $9.19 million for the quarter, compared to analyst estimates of $10.35 million. Healthcare Triangle had a negative return on equity of 166.88% and a negative net margin of 70.43%.

Healthcare Triangle Stock Performance

HCTI traded down $0.48 during trading on Friday, hitting $1.25. 1,074,856 shares of the stock were exchanged, compared to its average volume of 733,258. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.02. Healthcare Triangle has a 1-year low of $1.00 and a 1-year high of $244.80. The stock has a fifty day moving average price of $1.79 and a two-hundred day moving average price of $3.62. The firm has a market capitalization of $2.54 million, a P/E ratio of -0.02 and a beta of 1.11.

Wall Street Analysts Forecast Growth

HCTI has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a report on Friday, July 17th. Wall Street Zen raised shares of Healthcare Triangle from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Healthcare Triangle

A number of hedge funds have recently modified their holdings of HCTI. XTX Topco Ltd purchased a new stake in Healthcare Triangle in the 2nd quarter valued at $69,000. Jane Street Group LLC acquired a new stake in Healthcare Triangle during the 2nd quarter worth $33,000. Finally, Private Advisor Group LLC acquired a new stake in Healthcare Triangle during the 3rd quarter worth $26,000. 0.33% of the stock is currently owned by hedge funds and other institutional investors.

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.