Independence Contract Drilling Inc. (NYSE:ICD) has a beta of 7.06. The stock’s Relative Strength Index (RSI) is 66.25, with weekly volatility at 13.97% and ATR at 0.50. The ICD stock’s 52-week price range has touched low of $1.08 and a $14.39 high. Its shares traded higher over the last trading session, gaining 3.01% on 02/12/21. The shares fell to a low of $4.75 before closing at $5.13. Intraday shares traded counted 0.16 million, which was 49.02% higher than its 30-day average trading volume of 322.53K. ICD’s previous close was $4.98 while the outstanding shares total 5.70M.
Investors have identified the Oil & Gas Drilling company Independence Contract Drilling Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $30.78 million, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Independence Contract Drilling Inc. (ICD) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. For ICD, the company has in raw cash 18.81 million on their books with 3.14 million currently as liabilities. How the trend is over time is what investors should be concerned about. The company has a healthy balance sheet as their debt profile has been on a decline. In terms of their assets, the company currently has 34.72 million total, with 17.17 million as their total liabilities.
Having a look at the company’s valuation, the company is expected to record -9.02 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on ICD sounds very interesting.
Is the stock of ICD attractive?
In related news, Director, MSD CAPITAL L P sold 6,675 shares of the company’s stock in a transaction that recorded on Dec 31. The sale was performed at an average price of 3.00, for a total value of 20,025. As the sale deal closes, the Director, MSD Partners, L.P. now sold 27,982 shares of the company’s stock, valued at 83,946. Also, Director, MSD Partners, L.P. sold 32,638 shares of the company’s stock in a deal that was recorded on Dec 30. The shares were price at an average price of 3.00 per share, with a total market value of 97,914. Following this completion of acquisition, the Director, MSD CAPITAL L P now holds 7,786 shares of the company’s stock, valued at 23,358. In the last 6 months, insiders have changed their ownership in shares of company stock by 0.70%.
0 out of 2 analysts covering the stock have rated it a Buy, while 2 have maintained a Hold recommendation on Independence Contract Drilling Inc.. 0 analysts has assigned a Sell rating on the ICD stock. The 12-month mean consensus price target for the company’s shares has been set at $3.67.