Healthcare Triangle (NASDAQ:HCTI) Announces Quarterly Earnings Results, Beats Estimates By $1.87 EPS

Healthcare Triangle (NASDAQ:HCTI) released its quarterly earnings data on Thursday. The company reported ($1.56) EPS for the quarter, topping analysts’ consensus estimates of ($3.43) by $1.87, Zacks reports. Healthcare Triangle had a negative return on equity of 166.88% and a negative net margin of 70.43%.

Healthcare Triangle Stock Up 40.3%

HCTI traded up $0.50 during trading hours on Thursday, hitting $1.74. The company’s stock had a trading volume of 44,927,244 shares, compared to its average volume of 219,659. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.02. Healthcare Triangle has a fifty-two week low of $1.00 and a fifty-two week high of $244.80. The company has a 50-day simple moving average of $1.79 and a 200 day simple moving average of $3.62.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. 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 research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

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

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.