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

iCoreConnect Inc. (NASDAQ:ICCT) shares are going to reverse split 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 Stock Down 26.8 %

Shares of iCoreConnect stock traded down $0.05 on Thursday, hitting $0.13. 5,167,273 shares of the company traded hands, compared to its average volume of 2,662,741. The company has a market cap of $3.12 million, a PE 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. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 7.93. iCoreConnect has a 12-month low of $0.12 and a 12-month high of $1.93.

Insider Activity at iCoreConnect

In related news, CEO Robert P. Mcdermott acquired 236,785 shares of the stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $0.18 per share, for a total transaction of $42,621.30. Following the completion of the purchase, the chief executive officer now owns 1,229,885 shares in the company, valued at approximately $221,379.30. The trade was a 23.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 59.42% of the stock is owned by company 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.