Healthcare Triangle, Inc. (NASDAQ:HCTI) Short Interest Down 75.8% in May

Healthcare Triangle, Inc. (NASDAQ:HCTI) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 91,956 shares, a decline of 75.8% from the May 14th total of 379,248 shares. Currently, 4.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 78,939 shares, the days-to-cover ratio is presently 1.2 days.

Healthcare Triangle Stock Performance

Shares of HCTI stock opened at $2.36 on Wednesday. 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 fifty-two week low of $2.06 and a fifty-two week high of $1,299.78. The stock has a 50 day moving average price of $2.38 and a two-hundred day moving average price of $30.36. The company has a market capitalization of $4.79 million, a P/E ratio of -0.04 and a beta of 1.04.

Healthcare Triangle announced that its board has approved a share repurchase program on Wednesday, March 11th that authorizes the company to repurchase $2,000.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 100,000,000% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Healthcare Triangle

A number of large investors have recently made changes to their positions in HCTI. XTX Topco Ltd bought a new stake in shares of Healthcare Triangle during the 2nd quarter valued at about $69,000. Jane Street Group LLC bought a new position in shares of Healthcare Triangle in the second quarter worth about $33,000. Finally, Private Advisor Group LLC bought a new position in shares of Healthcare Triangle in the third quarter worth about $26,000. 0.33% of the stock is currently owned by institutional investors.

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.