iCAD, Inc. (NASDAQ:ICAD) Short Interest Update

iCAD, Inc. (NASDAQ:ICAD) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 786,500 shares, a drop of 13.5% from the August 15th total of 909,700 shares. Currently, 3.3% of the company’s shares are sold short. Based on an average daily trading volume, of 1,400,000 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Investors Weigh In On iCAD

Several hedge funds have recently made changes to their positions in ICAD. Portolan Capital Management LLC bought a new stake in shares of iCAD during the first quarter valued at approximately $4,041,000. Granahan Investment Management LLC raised its stake in iCAD by 12.7% during the fourth quarter. Granahan Investment Management LLC now owns 2,849,124 shares of the technology company’s stock valued at $5,214,000 after buying an additional 321,285 shares during the last quarter. Pura Vida Investments LLC raised its stake in iCAD by 25.9% during the fourth quarter. Pura Vida Investments LLC now owns 1,108,669 shares of the technology company’s stock valued at $2,029,000 after buying an additional 228,111 shares during the last quarter. Millennium Management LLC purchased a new position in iCAD during the second quarter valued at $861,000. Finally, General American Investors Co. Inc. purchased a new position in iCAD during the first quarter valued at $249,000. 26.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ICAD shares. StockNews.com started coverage on iCAD in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Lake Street Capital lifted their price objective on iCAD from $2.50 to $5.00 in a research report on Wednesday, July 19th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.00.

iCAD Stock Performance

Shares of NASDAQ ICAD traded down $0.08 during mid-day trading on Tuesday, hitting $1.86. 341,097 shares of the stock traded hands, compared to its average volume of 608,254. iCAD has a 52 week low of $1.05 and a 52 week high of $3.97. The company has a market cap of $47.21 million, a price-to-earnings ratio of -3.76 and a beta of 1.32. The stock has a fifty day moving average price of $2.49 and a 200-day moving average price of $1.82.

iCAD (NASDAQ:ICAD) last released its quarterly earnings results on Monday, August 14th. The technology company reported ($0.07) earnings per share for the quarter. iCAD had a negative net margin of 51.13% and a negative return on equity of 36.14%. The firm had revenue of $5.87 million for the quarter.

iCAD Company Profile

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Cancer Detection and Cancer Therapy. The company's breast AI suite includes cancer detection, automated density assessment, and breast cancer risk assessment solutions for both 2D and 3D mammography.