On Thursday, Independence Contract Drilling Inc. [NYSE:ICD] has a current price of $3.06, coming out to a daily percentage change of 15.97% with a 52-week range of $1.08 – $24.20.
Other data for the company is as follows:
- Stochastic %K of 52.65
- Weighted Alpha of -85.6
Daily swings are between $2.4311 and $2.73.
The Price is right
Holding a Market Cap of $13.70 million, Independence Contract Drilling Inc. has seen a trading range over the last year of $1.08-$24.20.
For the last five days, ICD is up from its last closing price. The average shares trading hands each day is 354.05K, with average 10-day volume coming in at 0.11 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for ICD. When we apply the Elder Force Index to Independence Contract Drilling Inc., we are seeing an Elder Force Indicator number of 729769.32.
The company’s enterprise value has gone from $158.81M to $139.23M quarter-over-quarter. Obviously, the company is heading in the wrong direction, but there are still opportunities for growth in the sector.
In the last quarter, ICD made a profit of -6.48 million. Independence Contract Drilling Inc. also saw quarter revenue growth year over year of 42.77%. In addition, the company has operating cash flow of $16.95 million.
Looking at popular technical indicators, the company’s 5-day moving average is 2.56 compared to the 50-day moving average of 2.5794. So, traders might want to tread carefully if they are going to bid.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. ICD currently holds a 9-day RSI of 68.38%, while 100-day RSI stands at 43.09%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. ICD’s 9-day MACD is 0.14 and the company’s 100-day MACD stands at -1.03.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 7.85% by insiders and 74.00% by institutions.
Over the last six months, insiders have sold 1,000 with the most recent transaction from Gallegos John A. Jr., President & CEO, with a sell at price 3.09 per share.
Overall, the recommended rating for ICD is Hold. Currently, the company has 3 analysts watching the stock, and the average quarterly earnings estimate is -3.2. Quarterly revenue estimates are averaging 10M with the high estimate reaching 10.1M and the low at 9.9M.