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

iCoreConnect Inc. (NASDAQ:ICCT) shares are scheduled to reverse split on the morning of 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 Stock Performance

Shares of iCoreConnect stock traded down $0.05 during trading hours on Thursday, reaching $0.13. 5,167,273 shares of the stock traded hands, compared to its average volume of 2,662,741. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 7.93. The firm has a market capitalization of $3.12 million, a price-to-earnings ratio of -0.04 and a beta of 0.77. The company has a 50 day moving average price of $0.22 and a 200 day moving average price of $0.50. iCoreConnect has a one year low of $0.12 and a one year high of $1.93.

Insider Buying and Selling at iCoreConnect

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

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.