icad (NASDAQ:ICAD) Stock Passes Above 200 Day Moving Average – Here’s What Happened

icad inc. (NASDAQ:ICAD)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.78 and traded as high as $3.78. icad shares last traded at $3.75, with a volume of 166,301 shares.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ICAD shares. Laidlaw restated a “hold” rating on shares of icad in a research report on Thursday, April 17th. Wall Street Zen assumed coverage on icad in a research report on Tuesday, May 20th. They issued a “sell” rating on the stock. Craig Hallum lowered shares of icad from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 16th. Finally, BTIG Research cut shares of icad from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 16th.

icad Stock Up 0.5%

The stock has a market cap of $103.01 million, a P/E ratio of -19.74 and a beta of 1.38. The business’s 50 day simple moving average is $3.66 and its two-hundred day simple moving average is $2.78.

icad (NASDAQ:ICAD) last released its quarterly earnings results on Tuesday, May 13th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. icad had a negative return on equity of 15.03% and a negative net margin of 26.63%. The company had revenue of $4.87 million for the quarter, compared to analysts’ expectations of $4.54 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in icad during the first quarter valued at $40,000. Goldman Sachs Group Inc. bought a new position in shares of icad during the 1st quarter worth approximately $44,000. PKS Advisory Services LLC acquired a new stake in shares of icad during the 4th quarter worth approximately $53,000. Cubist Systematic Strategies LLC bought a new stake in shares of icad in the 1st quarter valued at $71,000. Finally, Wells Fargo & Company MN lifted its position in shares of icad by 51.3% during the 4th quarter. Wells Fargo & Company MN now owns 39,542 shares of the technology company’s stock valued at $72,000 after acquiring an additional 13,402 shares during the period. 24.61% of the stock is owned by institutional investors and hedge funds.

About icad

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.