Healthcare Triangle, Inc. (NASDAQ:HCTI) Sees Significant Growth in Short Interest

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totaling 170,615 shares, an increase of 231.2% from the June 15th total of 51,512 shares. Approximately 8.4% of the shares of the company are sold short. Based on an average daily trading volume, of 430,113 shares, the days-to-cover ratio is currently 0.4 days.

Healthcare Triangle Price Performance

NASDAQ HCTI traded down $0.03 during trading on Tuesday, hitting $1.74. 41,513 shares of the stock traded hands, compared to its average volume of 476,577. The company has a market capitalization of $3.53 million, a P/E ratio of -0.03 and a beta of 1.08. The firm has a 50-day simple moving average of $2.19 and a 200-day simple moving average of $9.40. 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 12-month low of $1.67 and a 12-month high of $1,299.78.

Healthcare Triangle (NASDAQ:HCTI) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($6.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.84) by $0.03. Healthcare Triangle had a negative return on equity of 166.88% and a negative net margin of 70.43%.The business had revenue of $9.86 million for the quarter, compared to analysts’ expectations of $9.86 million. As a group, analysts predict that Healthcare Triangle will post -16.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Healthcare Triangle from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Healthcare Triangle

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new position in shares of Healthcare Triangle in the 2nd quarter worth $69,000. Jane Street Group LLC purchased a new stake in shares of Healthcare Triangle during the 2nd quarter valued at about $33,000. Finally, Private Advisor Group LLC bought a new position in shares of Healthcare Triangle in the 3rd quarter valued at about $26,000. Institutional investors 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.