Short Interest in iCAD, Inc. (NASDAQ:ICAD) Grows By 20.1%

iCAD, Inc. (NASDAQ:ICAD) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 269,400 shares, an increase of 20.1% from the March 15th total of 224,300 shares. Based on an average daily volume of 459,200 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.0% of the shares of the company are short sold.

Hedge Funds Weigh In On iCAD

Several large investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC boosted its position in shares of iCAD by 6.1% during the 4th quarter. First Eagle Investment Management LLC now owns 716,161 shares of the technology company’s stock worth $1,311,000 after acquiring an additional 41,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of iCAD by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 276,493 shares of the technology company’s stock worth $506,000 after acquiring an additional 17,059 shares during the last quarter. Perritt Capital Management Inc grew its stake in iCAD by 1.9% in the 4th quarter. Perritt Capital Management Inc now owns 189,100 shares of the technology company’s stock worth $346,000 after acquiring an additional 3,600 shares during the period. Summit Trail Advisors LLC purchased a new position in iCAD during the fourth quarter worth about $214,000. Finally, Granahan Investment Management LLC purchased a new position in iCAD during the fourth quarter worth approximately $96,000. 24.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ICAD. BTIG Research lowered iCAD from a “buy” rating to a “neutral” rating in a report on Wednesday, April 16th. StockNews.com cut shares of iCAD from a “hold” rating to a “sell” rating in a report on Thursday, April 17th. Craig Hallum cut shares of iCAD from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 16th. Finally, Laidlaw reaffirmed a “hold” rating on shares of iCAD in a report on Thursday, April 17th.

iCAD Price Performance

Shares of NASDAQ:ICAD traded up $0.12 during trading hours on Tuesday, hitting $3.15. The company’s stock had a trading volume of 732,377 shares, compared to its average volume of 362,511. The company has a market capitalization of $86.07 million, a price-to-earnings ratio of -24.18 and a beta of 1.78. The firm’s fifty day moving average price is $2.34 and its 200 day moving average price is $2.15. iCAD has a 52 week low of $1.18 and a 52 week high of $3.78.

iCAD (NASDAQ:ICAD) last posted its earnings results on Wednesday, March 19th. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $5.41 million for the quarter, compared to analyst estimates of $4.72 million. iCAD had a negative return on equity of 15.65% and a negative net margin of 17.81%.

iCAD Company Profile

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.