Short Interest in Healthcare Triangle, Inc. (NASDAQ:HCTI) Decreases By 34.2%

Healthcare Triangle, Inc. (NASDAQ:HCTI) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 347,970 shares, a decline of 34.2% from the August 15th total of 528,837 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily volume of 269,121 shares, the short-interest ratio is presently 1.3 days.

Healthcare Triangle Price Performance

Shares of NASDAQ:HCTI traded up $0.04 during midday trading on Friday, reaching $0.75. 63,122 shares of the company were exchanged, compared to its average volume of 676,433. The stock has a market cap of $11.26 million, a PE ratio of -0.02 and a beta of 1.09. The business’s fifty day moving average is $1.18 and its two-hundred day moving average is $1.97. Healthcare Triangle has a one year low of $0.68 and a one year high of $223.20. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.11.

Healthcare Triangle (NASDAQ:HCTI) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.43) by $1.87. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $10.35 million. Healthcare Triangle had a negative net margin of 66.85% and a negative return on equity of 125.45%. As a group, analysts predict that Healthcare Triangle will post -10.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

HCTI has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a research note on Friday, July 17th. Wall Street Zen upgraded shares of 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 MarketBeat, the company currently has an average rating of “Sell”.

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.