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

iCoreConnect Inc. (NASDAQ:ICCT)’s stock is 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 closing bell on Friday, December 20th.

iCoreConnect Stock Down 26.8 %

NASDAQ:ICCT traded down $0.05 during mid-day trading on Thursday, reaching $0.13. The company’s stock had a trading volume of 5,167,273 shares, 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. iCoreConnect has a 1 year low of $0.12 and a 1 year high of $1.93. The stock has a fifty day moving average of $0.22 and a 200-day moving average of $0.50. The firm has a market capitalization of $3.12 million, a PE ratio of -0.04 and a beta of 0.77.

Insider Transactions at iCoreConnect

In related news, CEO Robert P. Mcdermott acquired 236,785 shares of iCoreConnect stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $0.18 per share, for a total transaction of $42,621.30. Following the purchase, the chief executive officer now owns 1,229,885 shares of the company’s stock, valued at approximately $221,379.30. This represents a 23.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible 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.