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

iCoreConnect Inc. (NASDAQ:ICCT) was the recipient of a large decrease in short interest during the month of 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. Currently, 5.1% of the shares of the company are sold short. Based on an average daily trading volume, of 409,600 shares, the days-to-cover ratio is currently 0.1 days.

Insider Buying and Selling

In related news, CEO Robert P. Mcdermott acquired 11,839 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $3.60 per share, for a total transaction of $42,620.40. Following the purchase, the chief executive officer now directly owns 61,494 shares in the company, valued at $221,378.40. This represents a 23.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 59.42% of the stock is owned by company insiders.

iCoreConnect Trading Up 0.4 %

NASDAQ:ICCT opened at $2.38 on Thursday. iCoreConnect has a 1 year low of $2.25 and a 1 year high of $37.40. The stock has a market cap of $2.89 million, a price-to-earnings ratio of -0.75 and a beta of 0.84. The business has a fifty day moving average of $3.11 and a 200-day moving average of $7.83. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.11 and a current ratio of 0.11.

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.