Healthcare Triangle (NASDAQ:HCTI) Raised to “Hold” at Wall Street Zen

Healthcare Triangle (NASDAQ:HCTI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Healthcare Triangle in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Healthcare Triangle Stock Performance

Shares of HCTI stock opened at $2.23 on Friday. The company has a 50 day moving average price of $2.37 and a 200-day moving average price of $28.64. Healthcare Triangle has a 52 week low of $2.06 and a 52 week high of $1,299.78. The firm has a market capitalization of $4.53 million, a PE ratio of -0.03 and a beta of 1.04. 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 declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 11th that permits the company to buyback $2,000.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 100,000,000% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Healthcare Triangle

Several large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in Healthcare Triangle during the second quarter valued at approximately $69,000. Jane Street Group LLC purchased a new position in Healthcare Triangle during the second quarter valued at approximately $33,000. Finally, Private Advisor Group LLC purchased a new position in Healthcare Triangle during the third quarter valued at approximately $26,000. 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.