CareCloud (NASDAQ:CCLD) Stock Rating Lowered by Roth Mkm

Roth Mkm downgraded shares of CareCloud (NASDAQ:CCLD) from a buy rating to a neutral rating in a research report report published on Wednesday, MarketBeat reports. They currently have $3.50 target price on the stock, down from their prior target price of $5.00.

Separately, Benchmark boosted their price objective on CareCloud from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, August 27th.

CareCloud Stock Down 3.5 %

NASDAQ:CCLD opened at $2.47 on Wednesday. CareCloud has a 1-year low of $0.68 and a 1-year high of $3.88. The firm has a market capitalization of $40.11 million, a price-to-earnings ratio of -0.77 and a beta of 1.37. The stock has a fifty day simple moving average of $2.54 and a 200 day simple moving average of $2.38.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in shares of CareCloud by 25.1% during the second quarter. Renaissance Technologies LLC now owns 107,200 shares of the company’s stock worth $206,000 after purchasing an additional 21,500 shares during the period. Heron Bay Capital Management increased its stake in CareCloud by 126.8% during the 2nd quarter. Heron Bay Capital Management now owns 34,576 shares of the company’s stock worth $66,000 after acquiring an additional 19,329 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of CareCloud during the 3rd quarter worth $42,000. 10.16% of the stock is owned by institutional investors and hedge funds.

CareCloud Company Profile

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.