Healthcare Triangle, Inc. (NASDAQ:HCTI) Sees Large Decline in Short Interest

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the recipient of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 102,611 shares, a decline of 85.6% from the February 26th total of 714,560 shares. Based on an average trading volume of 261,466 shares, the days-to-cover ratio is currently 0.4 days. Approximately 14.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new position in shares of Healthcare Triangle during the 2nd quarter worth $69,000. Jane Street Group LLC purchased a new position in shares of Healthcare Triangle during the 2nd quarter worth approximately $33,000. Finally, Private Advisor Group LLC acquired a new stake in Healthcare Triangle in the 3rd quarter valued at approximately $26,000. 0.33% of the stock is currently owned by institutional investors and hedge funds.

Healthcare Triangle Stock Performance

Shares of NASDAQ HCTI traded down $0.14 during trading on Thursday, hitting $2.78. 4,832,507 shares of the company were exchanged, compared to its average volume of 736,151. Healthcare Triangle has a 12-month low of $2.46 and a 12-month high of $7,470.00. The company has a fifty day moving average price of $9.57 and a 200-day moving average price of $87.37. The firm has a market capitalization of $2.03 million, a PE ratio of 0.00 and a beta of 1.02.

Healthcare Triangle announced that its board has authorized a stock repurchase plan on Wednesday, March 11th that permits the company to repurchase $2,000.00 billion in shares. This repurchase authorization permits the company to reacquire up to 100,000,000% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Healthcare Triangle in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus 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.