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

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 Performance

iCoreConnect stock traded down $0.05 during midday trading on Thursday, hitting $0.13. The company’s stock had a trading volume of 5,167,273 shares, compared to its average volume of 2,662,741. iCoreConnect has a 1-year low of $0.12 and a 1-year high of $1.93. The company has a 50-day moving average price of $0.22 and a two-hundred day moving average price of $0.50. The company has a market cap of $3.12 million, a price-to-earnings ratio of -0.04 and a beta of 0.77. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.11 and a quick ratio of 0.11.

Insiders Place Their Bets

In related news, CEO Robert P. Mcdermott bought 236,785 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $0.18 per share, with a total value 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 $221,379.30. This represents a 23.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available 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.