iCAD (NASDAQ:ICAD) Stock Passes Above 200-Day Moving Average – What’s Next?

Shares of iCAD, Inc. (NASDAQ:ICAD) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.54 and traded as high as $2.42. iCAD shares last traded at $2.34, with a volume of 484,462 shares.

Analyst Ratings Changes

Separately, StockNews.com downgraded iCAD from a “hold” rating to a “sell” rating in a report on Wednesday.

iCAD Stock Down 2.5 %

The company has a fifty day simple moving average of $1.70 and a 200 day simple moving average of $1.54. The firm has a market capitalization of $62.10 million, a P/E ratio of -21.27 and a beta of 1.47.

iCAD (NASDAQ:ICAD) last released its earnings results on Tuesday, August 13th. The technology company reported ($0.07) EPS for the quarter. The company had revenue of $5.03 million during the quarter. iCAD had a negative return on equity of 13.59% and a negative net margin of 15.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ICAD. Virtu Financial LLC lifted its holdings in shares of iCAD by 55.6% during the first quarter. Virtu Financial LLC now owns 21,286 shares of the technology company’s stock valued at $34,000 after purchasing an additional 7,604 shares in the last quarter. Perritt Capital Management Inc lifted its holdings in shares of iCAD by 14.2% during the second quarter. Perritt Capital Management Inc now owns 159,900 shares of the technology company’s stock valued at $208,000 after purchasing an additional 19,917 shares in the last quarter. Essex LLC bought a new position in shares of iCAD during the third quarter valued at $216,000. Perritt Capital Management Inc. lifted its holdings in shares of iCAD by 7.5% during the first quarter. Perritt Capital Management Inc. now owns 139,983 shares of the technology company’s stock valued at $225,000 after purchasing an additional 9,717 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of iCAD by 3.2% during the first quarter. First Eagle Investment Management LLC now owns 701,525 shares of the technology company’s stock valued at $1,129,000 after purchasing an additional 22,000 shares in the last quarter. 24.61% of the stock is owned by institutional investors.

iCAD Company Profile

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.