iCoreConnect Inc (NASDAQ: ICCT) has seen a rise in its stock price by 4.94 in relation to its previous close of 0.17. However, the company has experienced a 9.39% gain in its stock price over the last five trading sessions. globenewswire.com reported 2024-11-14 that OCOEE, Fla., Nov. 14, 2024 (GLOBE NEWSWIRE) — iCoreConnect Inc (NASDAQ: ICCT) (“iCore” or the “Company”), a leading provider of cloud-based software and technology solutions, has announced a new endorsement agreement with the North Dakota Dental Association (NDDA).
Is It Worth Investing in iCoreConnect Inc (NASDAQ: ICCT) Right Now?
Company’s 36-month beta value is 0.73.Analysts have differing 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 public float for ICCT is 7.21M, and currently, short sellers hold a 1.53% ratio of that floaft. The average trading volume of ICCT on November 19, 2024 was 3.63M shares.
ICCT’s Market Performance
ICCT’s stock has seen a 9.39% increase for the week, with a -35.54% drop in the past month and a -65.55% fall in the past quarter. The volatility ratio for the week is 8.43%, and the volatility levels for the past 30 days are at 21.21% for iCoreConnect Inc The simple moving average for the past 20 days is -10.14% for ICCT’s stock, with a -78.53% simple moving average for the past 200 days.
ICCT Trading at -43.42% 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 -94.36% of loss for the given period.
Volatility was left at 21.21%, however, over the last 30 days, the volatility rate increased by 8.43%, as shares sank -38.12% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -65.84% lower at present.
During the last 5 trading sessions, ICCT rose by +9.88%, which changed the moving average for the period of 200-days by -89.14% in comparison to the 20-day moving average, which settled at $0.2009. In addition, iCoreConnect Inc saw -85.44% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ICCT starting from Fundamental Global Inc., who sale 1,000,000 shares at the price of $0.24 back on Nov 01 ’24. After this action, Fundamental Global Inc. now owns 2,223,843 shares of iCoreConnect Inc, valued at $240,400 using the latest closing price.
Fundamental Global Inc., the 10% Owner of iCoreConnect Inc, sale 100,000 shares at $0.23 during a trade that took place back on Oct 29 ’24, which means that Fundamental Global Inc. is holding 3,423,843 shares at $23,270 based on the most recent closing price.
Stock Fundamentals for ICCT
Current profitability levels for the company are sitting at:
- -1.69 for the present operating margin
- 0.68 for the gross margin
The net margin for iCoreConnect Inc stands at -2.61. The total capital return value is set at -3.86. Equity return is now at value -1042.46, with -224.61 for asset returns.
Based on iCoreConnect Inc (ICCT), the company’s capital structure generated 0.96 points at debt to capital in total, while cash flow to debt ratio is standing at -0.79. The debt to equity ratio resting at 24.55. The interest coverage ratio of the stock is -9.9.
Currently, EBITDA for the company is -11.88 million with net debt to EBITDA at -0.53. When we switch over and look at the enterprise to sales, we see a ratio of 1.28. The receivables turnover for the company is 14.59for trailing twelve months and the total asset turnover is 0.59. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.11.
Conclusion
In a nutshell, iCoreConnect Inc (ICCT) has experienced a bad performance in recent times. The stock has received mixed “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.
