Is Independence Contract Drilling Inc. [ICD] Stock Is Still Just for Futuristic Bulls at this Point?

Independence Contract Drilling Inc. [ICD] has traded in a range of $1.08 to $24.20 in the last 1 year. As of this writing, the stock is at $4.04, up 14.45%. To check whether the stock’s short-term amount has a thrust, its good to check stock’s recent movement. Over the last week, ICD shares are 6.33% up with the monthly amount drift of 51.87% and seems well in a long time frame.

On 3, November 2020, Independence Contract Drilling, Inc. to Host Earnings Call. According to news published on Yahoo Finance, NEW YORK, NY / ACCESSWIRE / November 3, 2020 / Independence Contract Drilling, Inc. (NYSE:ICD) will be discussing their earnings results in their 2020 Third Quarter Earnings call to be held on November 3, 2020 at 12:00 PM Eastern Time.

Analyst Birdseye View:

The most recent analyst activity for Independence Contract Drilling Inc. [NYSE:ICD] stock was on March 11, 2020, when it was Downgrade with a Hold rating from Tudor Pickering. Before that, on May 11, 2020, B. Riley FBR Recapitulated a Neutral rating and elevated its amount target to $3. On March 09, 2020, Evercore ISI Downgrade an In-line rating. On January 16, 2019, CapitalOne Downgrade an Equal weight rating. On November 22, 2017, B. Riley FBR Inc. Reiterated a Buy rating and decreased its price target to $7.75. On September 29, 2017, RBC Capital Mkts Reiterated an Outperform rating and boosted its amount target on this stock to $6. On June 21, 2017, Morgan Stanley Downgrade an Equal-weight rating. CapitalOne elevated its amount target by recapitulating a higher weight for this stock.

In the past 52 weeks of trading, this stock has oscillated between a low of $1.08 and a peak of $24.20. Right now, according to Wall Street analyst the average 12-month amount target is $3.50. At the most recent market close, shares of Independence Contract Drilling Inc. [NYSE:ICD] were valued at $4.04. According to the average price forecast, investors can expect a potential return of -33.33%.

FUNDAMENTAL ANALYSIS

Independence Contract Drilling Inc. [NYSE:ICD] most recently reported quarterly sales of 10.22 billion, which represented growth of -77.40%. This publicly-traded organization’s revenue is $313,234 per employee, while its income is -$93,520 per employee. This company’s Gross Margin is currently 24.70%, its Operating Margin is -65.30%, its Pretax Margin is -29.92, and its Net Margin is -29.86. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at -10.55, -16.81, -0.55 and -12.29 respectively.

The Principal structure of this organization shows its whole liability to whole principal at 29.74 and the whole liability to whole assets at 24.74. It shows enduring liability to the whole principal at 28.86 and enduring liability to assets at 0.24 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 3.30 points at 1st support level, the second support level is making up to 3.07. But as of 1st resistance point, this stock is sitting at 3.68 and at 3.83 for 2nd resistance point.

Independence Contract Drilling Inc. [ICD] reported its earnings at -$2.73 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$3.18/share signifying the difference of 0.45 and 14.20% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$2.73 calling estimates for -$3.47/share with the difference of 0.74 depicting the surprise of 21.30%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Independence Contract Drilling Inc. [NYSE:ICD] is 2.00. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.11. Now if looking for a valuation of this stock’s amount to sales ratio it’s 0.37 and it’s amount to book ratio is 0.23.

Insider Stories

The most recent insider trade was by Gallegos John A. Jr., President & CEO, and it was the sale of 1000.0 shares on Mar 12.