iCAD, Inc. (NASDAQ:ICAD) Sees Significant Increase in Short Interest

iCAD, Inc. (NASDAQ:ICAD) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 196,800 shares, an increase of 7.6% from the August 31st total of 182,900 shares. Based on an average trading volume of 170,500 shares, the short-interest ratio is currently 1.2 days. Approximately 0.8% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, StockNews.com raised shares of iCAD from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd.

iCAD Stock Performance

Shares of iCAD stock opened at $1.66 on Monday. The company has a 50-day simple moving average of $1.48 and a two-hundred day simple moving average of $1.49. iCAD has a 52-week low of $1.18 and a 52-week high of $2.65. The stock has a market capitalization of $44.06 million, a PE ratio of -13.83 and a beta of 1.51.

iCAD (NASDAQ:ICAD) last announced its quarterly 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%.

Hedge Funds Weigh In On iCAD

A number of hedge funds have recently modified their holdings of the company. First Eagle Investment Management LLC boosted its position in shares of iCAD by 3.2% in the first quarter. First Eagle Investment Management LLC now owns 701,525 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 22,000 shares during the period. Perritt Capital Management Inc lifted its holdings in shares of iCAD by 14.2% in the second quarter. Perritt Capital Management Inc now owns 159,900 shares of the technology company’s stock worth $208,000 after buying an additional 19,917 shares in the last quarter. Perritt Capital Management Inc. lifted its holdings in shares of iCAD by 7.5% in the first quarter. Perritt Capital Management Inc. now owns 139,983 shares of the technology company’s stock worth $225,000 after buying an additional 9,717 shares in the last quarter. AMH Equity Ltd purchased a new position in shares of iCAD in the first quarter worth $207,000. Finally, Salem Investment Counselors Inc. purchased a new position in shares of iCAD in the first quarter worth $119,000. 24.61% of the stock is currently owned by institutional investors.

About iCAD

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.