CareCloud (NASDAQ:CCLD) Raised to “Strong-Buy” at Wall Street Zen

CareCloud (NASDAQ:CCLD) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

A number of other brokerages have also weighed in on CCLD. ThinkEquity started coverage on CareCloud in a research report on Monday, November 24th. They issued a “buy” rating for the company. Roth Mkm reissued a “neutral” rating and set a $3.25 price objective on shares of CareCloud in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of CareCloud in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.25.

CareCloud Stock Performance

Shares of CCLD opened at $2.32 on Friday. The company has a market cap of $98.37 million, a price-to-earnings ratio of 58.01 and a beta of 2.05. The business’s fifty day simple moving average is $2.90 and its two-hundred day simple moving average is $3.07. CareCloud has a 12 month low of $1.14 and a 12 month high of $4.25. The company has a current ratio of 1.26, a quick ratio of 1.24 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On CareCloud

A number of institutional investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC purchased a new position in CareCloud during the fourth quarter valued at $2,000,000. Hillsdale Investment Management Inc. raised its stake in shares of CareCloud by 409.5% in the third quarter. Hillsdale Investment Management Inc. now owns 666,871 shares of the company’s stock worth $2,141,000 after buying an additional 535,971 shares during the period. Geode Capital Management LLC lifted its position in shares of CareCloud by 235.4% during the 2nd quarter. Geode Capital Management LLC now owns 359,486 shares of the company’s stock valued at $848,000 after buying an additional 252,299 shares in the last quarter. Legato Capital Management LLC bought a new position in shares of CareCloud during the 4th quarter valued at approximately $647,000. Finally, Renaissance Technologies LLC raised its stake in CareCloud by 96.1% during the 4th quarter. Renaissance Technologies LLC now owns 446,030 shares of the company’s stock worth $1,302,000 after acquiring an additional 218,530 shares during the period. 10.16% of the stock is owned by institutional investors.

CareCloud Company Profile

CareCloud, Inc is a healthcare technology company that provides cloud-based practice management, electronic health record (EHR) and revenue cycle management (RCM) solutions to medical practices and health systems. Its flagship offering, the CareCloud Central platform, combines clinical, financial and administrative workflows into a single, unified system. The platform includes modules for scheduling, billing, coding, patient engagement and telehealth, enabling practices to streamline front- and back-office operations and improve overall practice performance.

Founded in 2009 and headquartered in Miami Beach, Florida, CareCloud serves small to mid-size physician groups and specialty clinics across the United States.