Independence Contract Drilling Inc. (ICD): Current Recommendation for ICD is 3.00

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Independence Contract Drilling Inc. (NYSE:ICD) changes shares on Monday trading session, with a change of 4.78% or $0.16 shares. The trading starts at $3.35 and closed at $3.35 throughout the day. The trading session low price was $3.17 and day high was $3.64 on Monday, August 03. After the session, the Energy sector daily volume shifted to 0.2 million while its average volume is 321.23K. In other hand, the ICD market cap reached to $13.93M. While, its current target price is $4.75.

On April 26, 2018, BRIEF-Independence Contract Drilling Reports Q1 Loss Per Share $0.11. According to the news reported on Reuters, * INDEPENDENCE CONTRACT DRILLING, INC. REPORTS FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2018

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is down -7.63% and up 4.78% for month. Its quarterly performance was -51.92% below, while its half year performance is down -73.61%. ICD yearly performance stood at negative -85.50% and fall -82.39% for year-to-date. Current recommendation for Independence Contract Drilling Inc. is 3.00.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. ICD EPS (TTM) for 12-month is -23.05. EPS for this year is -91.70%, while for the next year its value is -13.19. It has an EPS of 13.40% up for past five years and for the next five years will be up 7.00%.

Let’s take a look on the analyst recommendations on ICD for the current month and previous month. For the current month, 0 of 4 analysts recommend stock as Buy while 0 as Sell, 0 as overweight, 0 as underweight and 4 as Hold. As compared with the previous month ratings, 6 analysts participate in stock recommendation. Out of 6, 0 rated it sell, 0 rated it as Buy and 6 as Hold Ratings. On the other hand, target price ranges from $3.00 – $7.00. Average target price for ICD was reached at $4.75.

The insider ownership moved to 3.60% and institutional holding shifted to 63.00%.

The company posted an EPS (TTM) of -23.05. According to the most recent quarter report on (Jun 2020), 4 analysts estimated an average EPS of -3.47, while -1.4 EPS posted a year ago period. Analyst Estimated EPS for ICD published in the report was -$3.81 – -$3.23 during the same period. Comparing with last year, the average estimated EPS was -1.4 which is higher than -2.82 which was posted for recent quarter EPS.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for ICD fall -65.19% for period of 200 days. SMA for 50 days was -22.73% which is showing red signal, while SMA-20 was -0.17%. The moving average value for Independence Contract Drilling Inc. (ICD) is 6.5804 and 3.7888 for 200 and 50 days respectively.

Let’s take a look on the insider transactions, in which multiple shareholders are showing interest in ICD stock. On Mar 12, Gallegos John A. Jr., President & CEO, sold 1,000 trading shares at the cost of $3.09, which valued at 3089.0. On Oct 18, Gallegos John A. Jr., President & CEO, bought 5,000 shares at the cost of $0.83, with total shares of 493,710. On Oct 18, CHOYCE PHILIP A, EVP & CFO, bought 6,400 shares at the cost of 0.82. After this transaction, CHOYCE PHILIP A total shares reached to 623,934 which valued at 5247.0.