Short Interest in Healthcare Triangle, Inc. (NASDAQ:HCTI) Rises By 218.9%

Healthcare Triangle, Inc. (NASDAQ:HCTI) was the recipient of a significant growth in short interest in August. As of August 14th, there was short interest totaling 528,837 shares, a growth of 218.9% from the July 30th total of 165,824 shares. Based on an average daily trading volume, of 4,899,226 shares, the short-interest ratio is presently 0.1 days. Currently, 3.5% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Healthcare Triangle in a report on Friday, July 17th. Wall Street Zen upgraded Healthcare Triangle from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Healthcare Triangle Price Performance

HCTI stock traded up $0.01 during midday trading on Friday, reaching $0.84. The stock had a trading volume of 106,105 shares, compared to its average volume of 2,622,168. Healthcare Triangle has a 52-week low of $0.83 and a 52-week 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. The company’s fifty day simple moving average is $1.50 and its 200 day simple moving average is $2.61. The company has a market cap of $12.64 million, a price-to-earnings ratio of -0.03 and a beta of 1.11.

Healthcare Triangle (NASDAQ:HCTI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.56) EPS for the quarter, topping the consensus estimate of ($3.43) by $1.87. The business had revenue of $9.19 million for the quarter, compared to analyst estimates of $10.35 million. Healthcare Triangle had a negative return on equity of 125.45% and a negative net margin of 66.85%. As a group, sell-side analysts predict that Healthcare Triangle will post -10.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new stake in shares of Healthcare Triangle in the 3rd quarter valued at approximately $26,000. Jane Street Group LLC purchased a new position in shares of Healthcare Triangle during the 2nd quarter worth approximately $33,000. Finally, XTX Topco Ltd acquired a new stake in Healthcare Triangle in the 2nd quarter valued at approximately $69,000. Hedge funds and other institutional investors own 0.33% of the company’s stock.

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.