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

iCoreConnect Inc. (NASDAQ:ICCT) shares are going 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 closing bell on Friday, December 20th.

iCoreConnect Trading Down 26.8 %

Shares of iCoreConnect stock traded down $0.05 on Thursday, reaching $0.13. 5,167,273 shares of the company’s stock were exchanged, compared to its average volume of 2,662,741. The company has a market capitalization of $3.12 million, a P/E ratio of -0.04 and a beta of 0.77. iCoreConnect has a 52 week low of $0.12 and a 52 week high of $1.93. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.11 and a current ratio of 0.11. The firm’s 50-day moving average is $0.22 and its two-hundred day moving average is $0.50.

Insider Buying and Selling at iCoreConnect

In related news, CEO Robert P. Mcdermott acquired 236,785 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $0.18 per share, with a total value of $42,621.30. Following the acquisition, the chief executive officer now owns 1,229,885 shares of the company’s stock, valued at approximately $221,379.30. This trade represents a 23.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 59.42% of the company’s stock.

iCoreConnect Company Profile

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.