Short Interest in iCoreConnect Inc. (NASDAQ:ICCT) Drops By 61.6%

iCoreConnect Inc. (NASDAQ:ICCT) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 42,400 shares, a decrease of 61.6% from the December 15th total of 110,400 shares. Approximately 5.1% of the shares of the company are short sold. Based on an average trading volume of 409,600 shares, the short-interest ratio is presently 0.1 days.

iCoreConnect Stock Performance

ICCT stock opened at $2.38 on Thursday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 7.93. The firm has a market cap of $2.89 million, a P/E ratio of -0.75 and a beta of 0.84. iCoreConnect has a 12-month low of $2.25 and a 12-month high of $37.40. The stock’s 50 day simple moving average is $3.11 and its 200 day simple moving average is $7.83.

Insider Activity at iCoreConnect

In other news, CEO Robert P. Mcdermott purchased 11,839 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $3.60 per share, with a total value of $42,620.40. Following the transaction, the chief executive officer now owns 61,494 shares in the company, valued at approximately $221,378.40. The trade was a 23.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.