Healthcare Triangle, Inc. (NASDAQ:HCTI) Sees Significant Decline in Short Interest

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 118,724 shares, a decline of 77.9% from the December 31st total of 536,611 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average daily volume of 1,160,522 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 1,160,522 shares, the short-interest ratio is currently 0.1 days. Approximately 2.0% of the company’s shares are sold short.

Healthcare Triangle Stock Performance

Shares of NASDAQ:HCTI traded down $0.02 during trading on Thursday, reaching $0.28. 122,659,869 shares of the stock were exchanged, compared to its average volume of 23,933,402. The firm’s 50-day moving average price is $1.31 and its 200 day moving average price is $2.77. The firm has a market cap of $1.63 million, a price-to-earnings ratio of 0.00 and a beta of 0.93. Healthcare Triangle has a 12-month low of $0.25 and a 12-month high of $218.12.

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

Institutional Investors Weigh In On Healthcare Triangle

Several institutional investors and hedge funds have recently modified their holdings of HCTI. XTX Topco Ltd purchased a new stake in shares of Healthcare Triangle during the 2nd quarter valued at about $69,000. Jane Street Group LLC purchased a new stake in Healthcare Triangle during the 2nd quarter worth $33,000. Finally, Private Advisor Group LLC acquired a new position in Healthcare Triangle in the 3rd quarter worth $26,000. Hedge funds and other institutional investors own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

HCTI has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Healthcare Triangle from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

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.