Short Interest in iCoreConnect Inc. (NASDAQ:ICCT) Rises By 822.7%

iCoreConnect Inc. (NASDAQ:ICCT) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 374,600 shares, a growth of 822.7% from the March 15th total of 40,600 shares. Currently, 22.3% of the shares of the company are sold short. Based on an average daily trading volume, of 15,360,000 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On iCoreConnect

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

iCoreConnect Stock Down 17.1 %

Shares of ICCT stock opened at $3.21 on Wednesday. iCoreConnect has a 12 month low of $0.24 and a 12 month high of $27.80. 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 firm has a market cap of $6.65 million, a PE ratio of -0.05 and a beta of -0.69. The stock has a 50 day moving average of $1.86 and a 200-day moving average of $3.25.

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.