iCoreConnect Inc (NASDAQ: ICCT)’s stock price has plunge by 34.99relation to previous closing price of 4.23. Nevertheless, the company has seen a 1822.18% surge in its stock price over the last five trading sessions. globenewswire.com reported 2024-12-19 that OCOEE, Fla., Dec. 19, 2024 (GLOBE NEWSWIRE) — iCoreConnect Inc. (NASDAQ: ICCT), a leading provider of cloud-based software and technology solutions, today announced that it filed an amendment to its amended and restated certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-20 reverse stock split of its common stock. The reverse stock split will take effect at 11:59 pm (Eastern Time) on December 20, 2024, and the Company’s common stock will open for trading on The Nasdaq Capital Market on December 23, 2024, on a post-split basis, under the existing ticker symbol
Is It Worth Investing in iCoreConnect Inc (NASDAQ: ICCT) Right Now?
Additionally, the 36-month beta value for ICCT is -1.23. 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 1.68M and currently, short sellers hold a 2.42% ratio of that float. The average trading volume of ICCT on April 07, 2025 was 14.21M shares.
ICCT’s Market Performance
ICCT’s stock has seen a 1822.18% increase for the week, with a 624.90% rise in the past month and a 130.24% gain in the past quarter. The volatility ratio for the week is 133.16%, and the volatility levels for the past 30 days are at 44.21% for iCoreConnect Inc The simple moving average for the past 20 days is 328.22% for ICCT’s stock, with a -13.38% simple moving average for the past 200 days.
ICCT Trading at 246.81% 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 -84.05% of loss for the given period.
Volatility was left at 44.21%, however, over the last 30 days, the volatility rate increased by 133.16%, as shares surge +751.98% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +107.64% upper at present.
During the last 5 trading sessions, ICCT rose by +1,821.91%, which changed the moving average for the period of 200-days by -68.04% in comparison to the 20-day moving average, which settled at $1.33. In addition, iCoreConnect Inc saw 128.40% in overturn over a single year, with a tendency to cut further gains.
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 $0.27 back on Dec 10 ’24. After this action, Fundamental Global Inc. now owns 1,223,843 shares of iCoreConnect Inc, valued at $269,000 using the latest closing price.
Fundamental Global Inc., the 10% Owner of iCoreConnect Inc, sale 10,000 shares at $0.17 during a trade that took place back on Dec 12 ’24, which means that Fundamental Global Inc. is holding 1,213,843 shares at $1,725 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 1.34 points at debt to capital in total, while cash flow to debt ratio is standing at -0.69. The debt to equity ratio resting at -3.97. 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 2.14. 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 better 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.
