iCAD, Inc. (NASDAQ:ICAD) Sees Large Decline in Short Interest

iCAD, Inc. (NASDAQ:ICADGet Free Report) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 191,100 shares, a decline of 20.9% from the May 15th total of 241,600 shares. Based on an average trading volume of 148,500 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.8% of the company’s stock are sold short.

iCAD Price Performance

Shares of ICAD stock traded down $0.03 on Monday, hitting $1.49. The company’s stock had a trading volume of 86,027 shares, compared to its average volume of 164,805. The stock has a market capitalization of $39.54 million, a price-to-earnings ratio of -12.42 and a beta of 1.50. iCAD has a fifty-two week low of $1.20 and a fifty-two week high of $3.97. The firm’s fifty day moving average price is $1.56 and its 200-day moving average price is $1.59.

iCAD (NASDAQ:ICADGet Free Report) last announced its quarterly earnings results on Tuesday, May 14th. The technology company reported ($0.05) earnings per share for the quarter. The company had revenue of $4.95 million during the quarter. iCAD had a negative return on equity of 14.00% and a negative net margin of 15.20%.

Institutional Investors Weigh In On iCAD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC grew its holdings in iCAD by 55.6% during the first quarter. Virtu Financial LLC now owns 21,286 shares of the technology company’s stock valued at $34,000 after purchasing an additional 7,604 shares during the last quarter. Tritonpoint Wealth LLC acquired a new position in iCAD in the 4th quarter valued at $83,000. Salem Investment Counselors Inc. bought a new position in iCAD in the 1st quarter worth $119,000. AMH Equity Ltd acquired a new position in iCAD during the 1st quarter worth $207,000. Finally, Perritt Capital Management Inc. lifted its position in iCAD by 7.5% during the 1st quarter. Perritt Capital Management Inc. now owns 139,983 shares of the technology company’s stock worth $225,000 after acquiring an additional 9,717 shares during the last quarter. 24.61% of the stock is currently owned by institutional investors and hedge funds.

About iCAD

(Get Free Report)

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.

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