mCloud Technologies Corp (NASDAQ:MCLD – Get Rating) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 45,800 shares, a decline of 7.5% from the August 31st total of 49,500 shares. Based on an average trading volume of 14,400 shares, the days-to-cover ratio is currently 3.2 days. Currently, 0.4% of the company's stock are short sold.

Analyst Upgrades and Downgrades

Separately, Maxim Group reiterated a "buy" rating and set a $4.00 target price on shares of mCloud Technologies in a report on Friday, August 19th.

mCloud Technologies Price Performance

Shares of NASDAQ MCLD opened at $1.56 on Friday. The firm has a market cap of $25.21 million and a P/E ratio of -2.33. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average of $2.32 and a 200 day moving average of $2.92. mCloud Technologies has a twelve month low of $1.55 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 acquired a new stake in shares of mCloud Technologies Corp (NASDAQ:MCLD – Get Rating) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 24,077 shares of the company's stock, valued at approximately $104,000. Raymond James & Associates owned 0.15% of mCloud Technologies at the end of the most recent reporting period. 1.42% of the stock is currently owned by hedge funds and other institutional investors.

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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