Stock Buyback Program Approved by Healthcare Triangle (NASDAQ:HCTI) Board of Directors

Healthcare Triangle (NASDAQ:HCTI) announced that its board has authorized a stock buyback program on Wednesday, March 11th, RTT News reports. The company plans to buyback $2,000.00 billion in shares. This buyback authorization permits the company to buy up to 100,000,000% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Healthcare Triangle Stock Performance

Healthcare Triangle stock opened at $2.87 on Friday. Healthcare Triangle has a 52 week low of $2.46 and a 52 week high of $7,470.00. The stock has a market capitalization of $2.10 million, a P/E ratio of 0.00 and a beta of 1.02. The stock has a fifty day moving average of $14.16 and a 200-day moving average of $95.24.

Analyst Ratings Changes

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

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.