Healthcare Triangle, Inc. (NASDAQ:HCTI) Sees Large Growth in Short Interest

Healthcare Triangle, Inc. (NASDAQ:HCTI) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 536,611 shares, an increase of 24.0% from the December 15th total of 432,595 shares. Currently, 9.3% of the shares of the stock are sold short. Based on an average trading volume of 657,547 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 657,547 shares, the short-interest ratio is presently 0.8 days. Currently, 9.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HCTI. Wall Street Zen cut shares of Healthcare Triangle from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Hedge Funds Weigh In On Healthcare Triangle

A number of hedge funds have recently added to or reduced their stakes in HCTI. Private Advisor Group LLC bought a new stake in shares of Healthcare Triangle during the third quarter valued at approximately $26,000. Jane Street Group LLC acquired a new stake in Healthcare Triangle during the second quarter worth $33,000. Finally, XTX Topco Ltd bought a new stake in Healthcare Triangle in the 2nd quarter valued at $69,000. Institutional investors and hedge funds own 0.33% of the company’s stock.

Healthcare Triangle Stock Performance

Shares of NASDAQ:HCTI traded up $0.00 during mid-day trading on Monday, hitting $0.45. The stock had a trading volume of 579,607 shares, compared to its average volume of 919,696. The company’s 50 day moving average is $1.62 and its 200-day moving average is $3.06. Healthcare Triangle has a 12-month low of $0.43 and a 12-month high of $241.53. The company has a market cap of $2.66 million, a PE ratio of 0.00 and a beta of 0.93.

Healthcare Triangle (NASDAQ:HCTI) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.20). The business had revenue of $3.49 million for the quarter.

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.