Additionally, the 36-month beta value for ICCT is 0.76. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for ICCT is 14.64M and currently, short sellers hold a 1.39% ratio of that float. The average trading volume of ICCT on December 09, 2024 was 4.05M shares.
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ICCT) stock’s latest price update
iCoreConnect Inc (NASDAQ: ICCT)’s stock price has increased by 11.92 compared to its previous closing price of 0.17. However, the company has seen a 9.55% increase in its stock price over the last five trading sessions. globenewswire.com reported 2024-11-25 that OCOEE, Fla., Nov. 25, 2024 (GLOBE NEWSWIRE) — iCoreConnect Inc. (NASDAQ: ICCT), a leading provider of cloud-based software and technology solutions, has announced the expansion of its endorsement partnership with the Maryland State Dental Association (as an MSDA Member Perks Endorsed Vendor) to include its full platform of cloud-based software and technology solutions. Before this expansion, the MSDA Member Perks Program endorsed iCoreVerify automated insurance verifications in 2021, followed by iCoreRx cloud ePrescribing in 2022.
ICCT’s Market Performance
iCoreConnect Inc (ICCT) has experienced a 9.55% rise in stock performance for the past week, with a -0.80% drop in the past month, and a -64.79% drop in the past quarter. The volatility ratio for the week is 8.03%, and the volatility levels for the past 30 days are at 9.21% for ICCT. The simple moving average for the past 20 days is 8.83% for ICCT’s stock, with a -75.24% simple moving average for the past 200 days.
ICCT Trading at -26.85% 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 -94.16% of loss for the given period.
Volatility was left at 9.21%, however, over the last 30 days, the volatility rate increased by 8.03%, as shares surge +1.33% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -47.89% lower at present.
During the last 5 trading sessions, ICCT rose by +6.92%, which changed the moving average for the period of 200-days by -87.68% in comparison to the 20-day moving average, which settled at $0.1715. In addition, iCoreConnect Inc saw -84.93% 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 McDermott Robert P, who purchase 236,785 shares at the price of $0.18 back on Nov 25 ’24. After this action, McDermott Robert P now owns 1,229,885 shares of iCoreConnect Inc, valued at $42,621 using the latest closing price.
McDermott Robert P, the Chief Executive Officer of iCoreConnect Inc, purchase 40,000 shares at $0.17 during a trade that took place back on Nov 26 ’24, which means that McDermott Robert P is holding 1,269,885 shares at $6,800 based on the most recent closing price.
Stock Fundamentals for ICCT
Current profitability levels for the company are sitting at:
- -1.55 for the present operating margin
- 0.68 for the gross margin
The net margin for iCoreConnect Inc stands at -2.63. The total capital return value is set at -15.6. Equity return is now at value -1718.32, with -189.86 for asset returns.
Based on iCoreConnect Inc (ICCT), the company’s capital structure generated 1.38 points at debt to capital in total, while cash flow to debt ratio is standing at -0.76. The debt to equity ratio resting at -3.63. The interest coverage ratio of the stock is -11.44.
Currently, EBITDA for the company is -11.88 million with net debt to EBITDA at -0.51. When we switch over and look at the enterprise to sales, we see a ratio of 1.47. The receivables turnover for the company is 13.84for trailing twelve months and the total asset turnover is 0.78. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.11.
Conclusion
In conclusion, iCoreConnect Inc (ICCT) has seen bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. 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.
