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      Healthcare Triangle Inc. (HCTI) stock Descends Further. What is happening? - Stocks Telegraph

      By Gule Rukhsar

      Published on

      January 24, 2022

      8:58 AM UTC

      Healthcare Triangle Inc. (HCTI) stock Descends Further. What is happening? - Stocks Telegraph

      On January 20, Healthcare Triangle Inc. (HCTI) provided shareholders update in a press release. Following the update, the stock has been in a downtrend as investors seem unimpressed.

      During the previous regular trading session, the stock fluctuated between a high of $1.62 and a low of $1.48. HCTI closed the session with a loss of 2.25% at $1.52. The stock continued its decline into the after-hours to lose a further 7.89%. Consequently, the stock was trading at $1.40 apiece in the after hours.

      The healthcare information technology company, Healthcare Triangle Inc. has a market capitalization of $50.05 million. Currently, the company has 32.93 million shares outstanding in the market. Furthermore, HCTI stock has declined by 11.63% in the past five days, while losing 16.02% year to date.

      HCTI’s Shareholder Update

      On Thursday, the company provided its first shareholder update since its IPO in October 2021. The updates were provided in a letter to the shareholders from HCTI’s CEO and Chairman, Suresh Vekatachari.

      Some of the main highlights of the shareholder update include:

      • Recognition of HCTI as one of the top 100 premier partners of Amazon Web Services.
      • Premier Partner status with Google Cloud.
      • Appointment of Sanjay Dalwani as CRO for building a world-class sales team to help attain the company’s goal of being a top 10 U.S. healthcare IT provider by revenue, by 2025.
      • The strategic acquisition of DevCool Inc., an EPIC HER Implementation and Managed Services company.

      In addition, the company expects to keep growing as the Covid-19 pandemic along with its woes has also created some great opportunities. The pandemic has led the way for an unprecedented digital transformation, hence creating a huge array of opportunities. The global cloud revenue is expected to reach $474 billion in 2022, according to Gartner’s research. Further, the cloud services revenue is expected to grow exponentially over the next few years. Thus, the company plans to take full advantage of this and similar opportunities.

      Moreover, Mr. Vekatachari also applauded the HCTI team’s resilience and dedication in the face of the global pandemic.

      HCTI’s DataEz Platform

      DataEz is the company’s platform with digital and advanced analytics capabilities. It can provide the patient’s complete data in utmost detail including patient’s characteristics and behaviors’ effects on health outcomes, prediction of the disease progression, response to therapy, risk of adverse events, etc.

      Additionally, the DataEz platform can also help in applying an already approved drug to new used cases. Therefore, increasing the R&D investment’s efficiency and time to market.

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