Short Interest in Healthcare Triangle, Inc. (NASDAQ:HCTI) Grows By 218.9%

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the target of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 528,837 shares, an increase of 218.9% from the July 30th total of 165,824 shares. Currently, 3.5% of the company’s stock are sold short. Based on an average daily trading volume, of 4,899,226 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

HCTI has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Friday, July 17th. Wall Street Zen raised Healthcare Triangle from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC acquired a new stake in shares of Healthcare Triangle in the 3rd quarter valued at $26,000. Jane Street Group LLC acquired a new stake in shares of Healthcare Triangle during the 2nd quarter worth about $33,000. Finally, XTX Topco Ltd acquired a new stake in shares of Healthcare Triangle during the 2nd quarter worth about $69,000. 0.33% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Triangle Price Performance

NASDAQ HCTI traded down $0.03 during trading on Thursday, reaching $0.84. 149,179 shares of the company traded hands, compared to its average volume of 714,335. Healthcare Triangle has a 1-year low of $0.83 and a 1-year high of $223.20. The company has a market cap of $12.59 million, a price-to-earnings ratio of -0.03 and a beta of 1.11. The stock’s 50 day moving average price is $1.56 and its two-hundred day moving average price is $2.68. 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) last issued its earnings results on Thursday, August 13th. The company reported ($1.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.43) by $1.87. The business had revenue of $9.19 million during the quarter, compared to analysts’ expectations of $10.35 million. Healthcare Triangle had a negative return on equity of 125.45% and a negative net margin of 66.85%. As a group, analysts anticipate that Healthcare Triangle will post -10.23 EPS for the current year.

Healthcare Triangle Company Profile

Healthcare Triangle, Inc (NASDAQ: HCTI) is a specialized digital transformation and cloud consulting firm focused on the healthcare industry. The company delivers a range of professional and managed services that help healthcare organizations modernize their IT infrastructure, optimize data workflows and achieve regulatory compliance.

Its core offerings include cloud architecture design and implementation, enterprise data platform development, application modernization and managed IT operations.