CareCloud (NASDAQ:CCLD) Receives Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of CareCloud (NASDAQ:CCLD) in a research note published on Friday morning,Benzinga reports. Benchmark currently has a $4.50 price objective on the stock.

A number of other brokerages have also weighed in on CCLD. Roth Capital lowered CareCloud from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Roth Mkm downgraded CareCloud from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $5.00 to $3.50 in a research note on Wednesday, November 13th.

CareCloud Stock Performance

CCLD stock opened at $2.79 on Friday. The company has a market capitalization of $45.31 million, a PE ratio of -0.87 and a beta of 1.37. The company’s fifty day moving average price is $2.55 and its 200-day moving average price is $2.40. CareCloud has a one year low of $0.68 and a one year high of $3.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCLD. XTX Topco Ltd purchased a new stake in CareCloud during the third quarter valued at approximately $42,000. Heron Bay Capital Management raised its holdings in CareCloud by 126.8% during the 2nd quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock valued at $66,000 after buying an additional 19,329 shares during the period. Finally, Renaissance Technologies LLC lifted its position in CareCloud by 25.1% in the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock worth $206,000 after buying an additional 21,500 shares during the last quarter. Hedge funds and other institutional investors own 10.16% of the company’s stock.

About CareCloud

CareCloud, Inc, a healthcare information technology (IT) company, provides a suite of cloud-based solutions and related business services to healthcare providers and hospitals primarily in the United States. It operates in two segments, Healthcare IT and Medical Practice Management. The company's portfolio of proprietary software and business services includes technology-enabled business solutions; cloud-based software; digital health services; healthcare IT professional services and staffing; and medical practice management services.