Bridgeway Capital Management LLC recently announced the acquisition of new stake in CareCloud Inc (NASDAQ:CCLD). The institutional investor has increased its shareholding in the Healthcare company by 0.70% to 0.34 million shares with purchase of 2370.0 shares. This fresh investment now brings its stake to 2.16% valued currently at $0.37 million. In addition, Geode Capital Management LLC raised its holdings by 10637.0 to 86860.0 shares. And Renaissance Technologies LLC has lifted its position by 27.31% or 13000.0 shares – to 60600.0 shares.
With over 0.43 million CareCloud Inc (CCLD) shares trading Friday and a closing price of $1.57 on the day, the dollar volume was approximately $0.68 million. The shares have shown a negative half year performance of -45.10% and its price on 12/22/23 gained nearly 12.95%. Currently, there are 15.23M common shares owned by the public and among those 8.60M shares have been available to trade.
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Insiders at the company have transacted a total of 48 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 280,403 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 48,151 shares.
The top 3 mutual fund holders in CareCloud Inc are Vanguard Total Stock Market ETF, Bridgeway Ultra Small Company Fun, and Gabelli Healthcare & Wellness Tru. Vanguard Total Stock Market ETF owns 0.27 million shares of the company’s stock, all valued at over $0.29 million. Gabelli Healthcare & Wellness Tru sold 2500.0 shares to bring its total holdings to over 0.13 million shares at a value of $0.15 million. Gabelli Healthcare & Wellness Tru now owns shares totaling to 0.85% of the shares outstanding.
Shares of CareCloud Inc (NASDAQ: CCLD) opened at $1.40, up $0.01 from a prior closing price of $1.39. However, the script later moved the day high at 1.7000, up 12.95%. The company’s stock has a 5-day price change of 106.04% and 38.94% over the past three months. CCLD shares are trading -44.13% year to date (YTD), with the 12-month market performance down to -48.36% lower. It has a 12-month low price of $0.68 and touched a high of $4.51 over the same period. CCLD has an average intraday trading volume of 57.00K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 59.96%, 52.96%, and -29.25% respectively.
Institutional ownership of CareCloud Inc (NASDAQ: CCLD) shares accounts for 12.26% of the company’s 15.23M shares outstanding. Mutual fund holders own 5.40%, while other institutional holders and individual stakeholders account for 6.86% and 35.57% respectively.
It has a market capitalization of $24.92M and a beta (3y monthly) value of 1.10. The earnings-per-share (ttm) stands at -$1.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 21.20% over the week and 11.82% over the month.
Analysts forecast that CareCloud Inc (CCLD) will achieve an EPS of -$0.35 for the current quarter, -$0.34 for the next quarter and -$1.1 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.4 while analysts give the company a high EPS estimate of -$0.29. Comparatively, EPS for the current quarter was -$0.22 a year ago. Earnings per share for the fiscal year are expected to decrease by -110.95%, and 25.71% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate CareCloud Inc (CCLD) as a “Strong Buy” at a consensus score of 1.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
