Healthcare Triangle (NASDAQ:HCTI) Shares Set to Reverse Split on Tuesday, February 10th

Healthcare Triangle, Inc. (NASDAQ:HCTI) shares are scheduled to reverse split before the market opens on Tuesday, February 10th. The 1-60 reverse split was announced on Friday, February 6th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, February 9th.

Healthcare Triangle Stock Down 28.8%

Healthcare Triangle stock traded down $0.06 during mid-day trading on Friday, hitting $0.15. The company had a trading volume of 18,056,822 shares, compared to its average volume of 20,582,994. Healthcare Triangle has a 1 year low of $0.15 and a 1 year high of $218.12. The business has a fifty day moving average of $1.05 and a 200 day moving average of $2.56. The stock has a market cap of $905,154.00, a price-to-earnings ratio of 0.00 and a beta of 0.91.

Healthcare Triangle (NASDAQ:HCTI) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.20). The firm had revenue of $3.49 million for the quarter.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Healthcare Triangle in a report on Thursday, January 22nd. Wall Street Zen lowered Healthcare Triangle from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Healthcare Triangle presently has a consensus rating of “Sell”.

Institutional Trading of Healthcare Triangle

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new position in shares of Healthcare Triangle in the 2nd quarter valued at approximately $69,000. Jane Street Group LLC purchased a new position in Healthcare Triangle in the 2nd quarter valued at $33,000. Finally, Private Advisor Group LLC acquired a new position in Healthcare Triangle in the 3rd quarter valued at $26,000. 0.33% of the stock is owned by hedge funds and other institutional investors.

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.