StockNews.com Begins Coverage on CareCloud (NASDAQ:MTBC)

StockNews.com assumed coverage on shares of CareCloud (NASDAQ:MTBCGet Rating) in a note issued to investors on Thursday. The firm set a “buy” rating on the technology company’s stock.

A number of other equities research analysts have also weighed in on the stock. TheStreet lowered shares of CareCloud from a “c-” rating to a “d+” rating in a report on Friday, April 1st. B. Riley decreased their target price on shares of CareCloud from $18.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, March 15th. Finally, Roth Capital restated a “buy” rating on shares of CareCloud in a research report on Monday, May 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $14.00.

Shares of MTBC stock opened at $3.63 on Thursday. The firm has a market cap of $54.69 million, a price-to-earnings ratio of -5.85 and a beta of 1.09. The company’s 50 day moving average is $4.35 and its 200 day moving average is $5.42. The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. CareCloud has a 52-week low of $3.25 and a 52-week high of $9.39.

CareCloud (NASDAQ:MTBCGet Rating) last released its quarterly earnings results on Monday, May 9th. The technology company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.08. CareCloud had a net margin of 4.09% and a return on equity of 6.01%. During the same period last year, the company earned ($0.36) EPS. Analysts anticipate that CareCloud will post -0.53 EPS for the current fiscal year.

In related news, CEO A Hadi Chaudhry sold 3,240 shares of the business’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $25.58, for a total transaction of $82,879.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 34.90% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Verity Asset Management Inc. acquired a new position in shares of CareCloud in the first quarter worth about $208,000. Gabelli Funds LLC raised its position in shares of CareCloud by 5.4% in the first quarter. Gabelli Funds LLC now owns 230,000 shares of the technology company’s stock worth $1,185,000 after acquiring an additional 11,778 shares during the period. Virtu Financial LLC acquired a new position in shares of CareCloud in the first quarter worth about $56,000. State Street Corp raised its position in shares of CareCloud by 13.3% in the first quarter. State Street Corp now owns 26,463 shares of the technology company’s stock worth $136,000 after acquiring an additional 3,100 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of CareCloud by 11.7% in the first quarter. Dimensional Fund Advisors LP now owns 152,916 shares of the technology company’s stock worth $788,000 after acquiring an additional 16,007 shares during the period. Institutional investors and hedge funds own 24.32% of the company’s stock.

CareCloud Company Profile (Get Rating)

CareCloud, Inc brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows, and make better business and care decisions. More than 40,000 providers across the United States count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs.

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