Bullish Or Bearish For Healthcare Triangle Inc (NASDAQ: HCTI) In 2024

Healthcare Triangle Inc (NASDAQ:HCTI) shares, rose in value on Thursday, April 04, with the stock price up by 12.05% to the previous day’s close as strong demand from buyers drove the stock to $2.14.

Actively observing the price movement in the recent trading, the stock is buoying the session at $1.91. The value of beta (5-year monthly) is 0.99. Referring to stock’s 52-week performance, its high was $10.89, and the low was $1.75. On the whole, HCTI has fluctuated by 12.63% over the past month.

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Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that HCTI’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of HCTI currently trading nearly 13.41% and -1.51% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.58, while the 7-day volatility ratio is showing 5.35% which for the 30-day chart, stands at 9.11%. Furthermore, Healthcare Triangle Inc (HCTI)’s beta value is 0.98, and its average true range (ATR) is 0.22.

A comparison of Healthcare Triangle Inc (HCTI) with its peers suggests the former has fared considerably weaker in the market. HCTI showed an intraday change of 12.05% in today’s session so far, and over the past year, it shrunk by -45.13%%.

Data on historical trading for Healthcare Triangle Inc (NASDAQ:HCTI) indicates that the trading volumes over the past 10 days have averaged 42660.0 and over the past 3 months, they’ve averaged 99.07K. According to company’s latest data on outstanding shares, there are 4.31 million shares outstanding.

Nearly 62.27% of Healthcare Triangle Inc’s shares belong to company insiders and institutional investors own 0.31% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 95180.0 shares as on Mar 15, 2024, resulting in a short ratio of 0.55. According to the data, the short interest in Healthcare Triangle Inc (HCTI) stood at 2.21% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 49420.0. The stock has fallen by -22.04% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HCTI stock heading into the next quarter.