iCoreConnect Inc. (NASDAQ:ICCT) Sees Large Increase in Short Interest

iCoreConnect Inc. (NASDAQ:ICCT) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 254,700 shares, an increase of 450.1% from the February 13th total of 46,300 shares. Approximately 18.1% of the company’s stock are sold short. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is presently 0.3 days.

iCoreConnect Stock Down 9.9 %

Shares of iCoreConnect stock traded down $0.06 during trading hours on Friday, hitting $0.56. 153,775 shares of the company’s stock traded hands, compared to its average volume of 324,107. 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 stock has a 50 day simple moving average of $1.96 and a 200-day simple moving average of $4.49. The company has a market cap of $1.15 million, a PE ratio of -0.01 and a beta of 1.09. iCoreConnect has a twelve month low of $0.54 and a twelve month high of $35.80.

Institutional Trading of iCoreConnect

A hedge fund recently bought a new stake in iCoreConnect stock. Magnus Financial Group LLC acquired a new stake in shares of iCoreConnect Inc. (NASDAQ:ICCT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 25,010 shares of the company’s stock, valued at approximately $63,000. Magnus Financial Group LLC owned about 2.05% of iCoreConnect at the end of the most recent quarter. Institutional investors own 13.42% 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.