Healthcare Triangle, Inc. (NASDAQ:HCTI) Shares Shorted: Short Interest Down 67.0% in October

by · The Markets Daily

Healthcare Triangle, Inc. (NASDAQ:HCTI – Get Free Report) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 252,895 shares, a decline of 67.0% from the September 30th total of 767,059 shares. Based on an average daily volume of 411,645 shares, the short-interest ratio is currently 0.6 days. Currently, 1.4% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Thursday, October 15th. Wall Street Zen raised shares of Healthcare Triangle to a “hold” rating in a report on Saturday, October 10th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Read Our Latest Stock Analysis on Healthcare Triangle

Healthcare Triangle Stock Down 18.4%

NASDAQ:HCTI traded down $1.16 during mid-day trading on Friday, hitting $5.14. 11,904 shares of the stock were exchanged, compared to its average volume of 19,712. The firm’s 50-day simple moving average is $12.68 and its 200 day simple moving average is $73.32. Healthcare Triangle has a fifty-two week low of $5.14 and a fifty-two week high of $3,390.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.60 and a current ratio of 0.60.

Healthcare Triangle (NASDAQ:HCTI – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($31.20) EPS for the quarter, beating analysts’ consensus estimates of ($68.60) by $37.40. Healthcare Triangle had a negative return on equity of 125.45% and a negative net margin of 66.85%. The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $10.35 million. Sell-side analysts forecast that Healthcare Triangle will post -204.60 earnings per share for the current fiscal year.

Healthcare Triangle Company Profile

(Get Free Report)

Healthcare Triangle, Inc (NASDAQ:HCTI) provides information technology and digital transformation services for the healthcare and life sciences industries. The company helps organizations modernize their technology environments, manage data, and support secure, compliant operations.

Its offerings include cloud services, data and analytics solutions, interoperability and application modernization, cybersecurity, managed services, and professional consulting. Healthcare Triangle also develops technology solutions intended to support electronic health record environments, clinical and business workflows, and the use of artificial intelligence and other advanced analytics in healthcare.

The company serves healthcare providers, payers, pharmaceutical and biotechnology companies, and other life sciences organizations.

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