Independence Contract Drilling Inc. [ICD] fell -85.40% so far this year. What now?

Independence Contract Drilling Inc. [NYSE: ICD] closed the trading session at $2.91 on 10/09/20. The day’s price range saw the stock hit a low of $2.54, while the highest price level was $3.95. The company report on September 4, 2020 that Independence Contract Drilling, Inc. Provides Interim Update On Certain Operational And Financial Data.

Independence Contract Drilling, Inc. (the “Company” or “ICD”) (NYSE: ICD) provided the following interim operational and financial updates for the third quarter of 2020:.

Since June 30, 2020, the Company has signed contracts for the reactivation of four rigs, with three of the contracts extending until at least the end of 2020. The Company currently expects operating days during the third quarter to range between 455 and 465 days.

The stocks have a year to date performance of -85.40 percent and weekly performance of 21.76 percent. The stock has been moved at -77.49 percent over the last six months. The stock has performed 31.08 percent around the most recent 30 days and changed 2.11 percent over the most recent 3-months.

If compared to the average trading volume of 354.05K shares, ICD reached to a volume of 12387768 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Independence Contract Drilling Inc. [ICD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ICD shares is $4.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ICD stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley FBR have made an estimate for Independence Contract Drilling Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 11, 2020. The new note on the price target was released on March 11, 2020, representing the official price target for Independence Contract Drilling Inc. stock.

The Average True Range (ATR) for Independence Contract Drilling Inc. is set at 0.34, with the Price to Sales ratio for ICD stock in the period of the last 12 months amounting to 0.09. The Price to Book ratio for the last quarter was 0.04, with the Price to Cash per share for the same quarter was set at 3.69.

ICD stock trade performance evaluation

Independence Contract Drilling Inc. [ICD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.76. With this latest performance, ICD shares gained by 31.08% in over the last four-week period, additionally sinking by -77.49% over the last 6 months – not to mention a drop of -83.67% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ICD stock in for the last two-week period is set at 61.40, with the RSI for the last a single of trading hit 70.47, and the three-weeks RSI is set at 54.08 for Independence Contract Drilling Inc. [ICD]. The present Moving Average for the last 50 days of trading for this stock 2.76, while it was recorded at 2.57 for the last single week of trading, and 6.52 for the last 200 days.

Independence Contract Drilling Inc. [ICD]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Independence Contract Drilling Inc. [ICD] shares currently have an operating margin of -1.34 and a Gross Margin at +6.54. Independence Contract Drilling Inc.’s Net Margin is presently recorded at -29.86.

Return on Total Capital for ICD is now -0.55, given the latest momentum, and Return on Invested Capital for the company is -12.29. Return on Equity for this stock declined to -16.81, with Return on Assets sitting at -10.55. When it comes to the capital structure of this company, Independence Contract Drilling Inc. [ICD] has a Total Debt to Total Equity ratio set at 42.33. Additionally, ICD Total Debt to Total Capital is recorded at 29.74, with Total Debt to Total Assets ending up at 24.74. Long-Term Debt to Equity for the company is recorded at 41.07, with the Long-Term Debt to Total Capital now at 28.86.

Reflecting on the efficiency of the workforce at the company, Independence Contract Drilling Inc. [ICD] managed to generate an average of -$93,520 per employee. Receivables Turnover for the company is 5.23 with a Total Asset Turnover recorded at a value of 0.35.Independence Contract Drilling Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.60.

Earnings per share (EPS) analysis for Independence Contract Drilling Inc. [ICD] stock

With the latest financial reports released by the company, Independence Contract Drilling Inc. posted -2/share EPS, while the average EPS was predicted by analysts to be reported at -2.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ICD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Independence Contract Drilling Inc. go to 7.00%.

Independence Contract Drilling Inc. [ICD]: Insider Ownership positions

There are presently around $5 million, or 39.60% of ICD stock, in the hands of institutional investors. The top three institutional holders of ICD stocks are: MSD PARTNERS, L.P. with ownership of 941,925, which is approximately 0% of the company’s market cap and around 0.80% of the total institutional ownership; MSD CAPITAL L P, holding 223,590 shares of the stock with an approximate value of $0.65 million in ICD stocks shares; and VANGUARD GROUP INC, currently with $0.31 million in ICD stock with ownership of nearly 25.689% of the company’s market capitalization.

Positions in Independence Contract Drilling Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 17 institutional holders increased their position in Independence Contract Drilling Inc. [NYSE:ICD] by around 272,607 shares. Additionally, 27 investors decreased positions by around 826,971 shares, while 3 investors held positions by with 701,732 shares. The mentioned changes placed institutional holdings at 1,801,310 shares, according to the latest SEC report filing. ICD stock had 11 new institutional investments in for a total of 202,553 shares, while 12 institutional investors sold positions of 546,823 shares during the same period.

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