mCloud Technologies Corp (NASDAQ:MCLD – Get Rating) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 146,100 shares, an increase of 205.6% from the September 30th total of 47,800 shares. Based on an average daily volume of 69,600 shares, the short-interest ratio is presently 2.1 days. Currently, 1.1% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of brokerages have issued reports on MCLD. Maxim Group reaffirmed a "buy" rating and issued a $4.00 target price on shares of mCloud Technologies in a report on Friday, August 19th. Alliance Global Partners lowered their target price on mCloud Technologies from $4.00 to $2.50 and set a "buy" rating for the company in a report on Tuesday.

mCloud Technologies Stock Performance

Shares of MCLD stock traded up $0.30 on Thursday, hitting $1.24. The company had a trading volume of 8,134,855 shares, compared to its average volume of 77,901. The firm has a market cap of $20.04 million and a P/E ratio of -1.85. The stock's 50-day moving average is $1.81 and its two-hundred day moving average is $2.53. mCloud Technologies has a twelve month low of $0.81 and a twelve month high of $5.01.

Institutional Investors Weigh In On mCloud Technologies

A hedge fund recently bought a new stake in mCloud Technologies stock. Raymond James & Associates bought a new stake in shares of mCloud Technologies Corp (NASDAQ:MCLD – Get Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,077 shares of the company's stock, valued at approximately $104,000. Raymond James & Associates owned approximately 0.15% of mCloud Technologies at the end of the most recent reporting period. Institutional investors own 1.42% of the company's stock.

About mCloud Technologies

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mCloud is unlocking the untapped potential of energy-intensive assets with AI and analytics, curbing energy waste, maximizing energy production, and getting the most out of critical energy infrastructure. Through mCloud's AI-powered AssetCare platform, mCloud offers complete asset management solutions for commercial buildings, renewable energy, healthcare, heavy industry, and connected workers.

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