Healthcare Triangle, Inc. (NASDAQ:HCTI) Short Interest Down 75.8% in May

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 91,956 shares, a drop of 75.8% from the May 14th total of 379,248 shares. Based on an average daily trading volume, of 78,939 shares, the short-interest ratio is presently 1.2 days. Currently, 4.5% of the company’s shares are sold short.

Institutional Investors Weigh In On Healthcare Triangle

A number of hedge funds have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in shares of Healthcare Triangle during the second quarter worth about $69,000. Jane Street Group LLC acquired a new stake in shares of Healthcare Triangle during the second quarter worth about $33,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Healthcare Triangle during the third quarter worth about $26,000. Institutional investors and hedge funds own 0.33% of the company’s stock.

Healthcare Triangle Trading Down 8.2%

HCTI traded down $0.20 during midday trading on Friday, reaching $2.23. 37,176 shares of the company were exchanged, compared to its average volume of 67,380. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.90 and a current ratio of 0.90. Healthcare Triangle has a one year low of $2.06 and a one year high of $1,299.78. The stock has a market capitalization of $4.53 million, a P/E ratio of -0.03 and a beta of 1.04. The stock’s 50-day simple moving average is $2.37 and its 200 day simple moving average is $28.64.

Healthcare Triangle announced that its board has approved a share buyback program on Wednesday, March 11th that allows the company to buyback $2,000.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 100,000,000% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Healthcare Triangle in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

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.