Healthcare Triangle Stock Set to Reverse Split on Tuesday, February 10th (NASDAQ:HCTI)

Shares of Healthcare Triangle, Inc. (NASDAQ:HCTI) are set to reverse split on the morning of Tuesday, February 10th. The 1-60 reverse split was announced on Friday, February 6th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, February 9th.

Healthcare Triangle Stock Down 28.8%

Shares of HCTI traded down $0.06 during midday trading on Friday, hitting $0.15. The company had a trading volume of 18,056,822 shares, compared to its average volume of 20,582,994. The stock has a market cap of $905,154.00, a price-to-earnings ratio of 0.00 and a beta of 0.91. The company’s 50 day moving average price is $1.05 and its 200 day moving average price is $2.56. Healthcare Triangle has a 52 week low of $0.15 and a 52 week high of $218.12.

Healthcare Triangle (NASDAQ:HCTI) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.20). The firm had revenue of $3.49 million for the quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Healthcare Triangle from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Healthcare Triangle

Several institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC bought a new position in Healthcare Triangle in the 3rd quarter valued at about $26,000. Jane Street Group LLC bought a new position in shares of Healthcare Triangle in the second quarter valued at approximately $33,000. Finally, XTX Topco Ltd bought a new position in shares of Healthcare Triangle in the second quarter valued at approximately $69,000. Institutional investors and hedge funds own 0.33% of the company’s stock.

About Healthcare Triangle

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.