The stock of iCoreConnect Inc. (NASDAQ: ICCT) has decreased by -12.21 when compared to last closing price of 5.16.Despite this, the company has seen a loss of -15.96% in its stock price over the last five trading days. The Motley Fool reported 2023-09-06 that iCore sells HIPAA-compliant systems for healthcare companies. The stock began trading on the NASDAQ late last month.
Is It Worth Investing in iCoreConnect Inc. (NASDAQ: ICCT) Right Now?
Moreover, the 36-month beta value for ICCT is 0.17. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The average price recommended by analysts for iCoreConnect Inc. (ICCT) is $14.92, The public float for ICCT is 238.26M and currently, short sellers hold a 0.34% of that float. On September 19, 2023, ICCT’s average trading volume was 3.55M shares.
ICCT’s Market Performance
ICCT’s stock has seen a -15.96% decrease for the week, with a -55.68% drop in the past month and a -57.06% fall in the past quarter. The volatility ratio for the week is 14.11%, and the volatility levels for the past 30 days are at 63.56% for iCoreConnect Inc. The simple moving average for the past 20 days is -36.71% for ICCT’s stock, with a -54.86% simple moving average for the past 200 days.
ICCT Trading at -50.93% from the 50-Day Moving Average
After a stumble in the market that brought ICCT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -78.12% of loss for the given period.
Volatility was left at 63.56%, however, over the last 30 days, the volatility rate increased by 14.11%, as shares surge +2,284.21% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3,124.20% upper at present.
During the last 5 trading sessions, ICCT fell by -15.96%, which changed the moving average for the period of 200-days by +6,271.31% in comparison to the 20-day moving average, which settled at $5.02. In addition, iCoreConnect Inc. saw -55.54% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for ICCT
Equity return is now at value 328.50, with -138.40 for asset returns.
Conclusion
To wrap up, the performance of iCoreConnect Inc. (ICCT) has been bad in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
