iCoreConnect Stock Set to Reverse Split on Monday, December 23rd (NASDAQ:ICCT)

Shares of iCoreConnect Inc. (NASDAQ:ICCT) are set to reverse split before the market opens on Monday, December 23rd. The 1-20 reverse split was announced on Thursday, December 19th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, December 20th.

iCoreConnect Trading Down 26.8 %

Shares of NASDAQ:ICCT traded down $0.05 during trading hours on Thursday, hitting $0.13. 5,167,273 shares of the company’s stock traded hands, compared to its average volume of 2,662,741. iCoreConnect has a 1 year low of $0.12 and a 1 year high of $1.93. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market capitalization of $3.12 million, a P/E ratio of -0.04 and a beta of 0.77. The business has a fifty day moving average price of $0.22 and a 200-day moving average price of $0.50.

Insider Activity

In other iCoreConnect news, CEO Robert P. Mcdermott purchased 236,785 shares of iCoreConnect stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $0.18 per share, with a total value of $42,621.30. Following the transaction, the chief executive officer now owns 1,229,885 shares of the company’s stock, valued at $221,379.30. This represents a 23.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 59.42% of the company’s stock.

About iCoreConnect

iCoreConnect Inc, a cloud-based software and technology company, provides Health Insurance Portability and Accountability Act (HIPAA) compliant cloud-based software as a service (SaaS) in the United States. The company’s products include iCoreRx, a HIPAA compliant electronic prescription software; iCorePDMP, a solution that checks the patient’s Prescription Drug Monitoring Program (PDMP) history before prescribing controlled substances; iCoreVerify and iCoreVerify+, a HIPAA compliant SaaS solution that automatically retrieves a patients insurance eligibility breakdown to verify their benefits in advance of their appointment and on-demand; iCoreHuddle and iCoreHuddle+, a tool to instantly reveal the revenue potential of each patient; and iCoreCodeGenius, a medical coding reference SaaS solution.