Independence Contract Drilling Inc. (NYSE: ICD) is 28.57% higher on its value in year-to-date trading and has touched a low of $2.12 and a high of $9.24 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ICD stock was last observed hovering at around $3.87 in the last trading session, with the day’s loss setting it -0.09% off its average median price target of $6.00 for the next 12 months. It is also 37.0% off the consensus price target high of $6.00 offered by 1 analysts, but current levels are 37.0% higher than the price target low of $6.00 for the same period.
Currently trading at $3.78, the stock is 8.02% and -14.78% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.23 million and changing -2.33% at the moment leaves the stock 8.36% off its SMA200. ICD registered -55.21% loss for a year compared to 6-month gain of 54.29%. The firm has a 50-day simple moving average (SMA 50) of $4.9833 and a 200-day simple moving average (SMA200) of $3.6153.
The stock witnessed a 13.86% loss in the last 1 month and extending the period to 3 months gives it a -13.70%, and is 6.48% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.95% over the week and 8.75% over the month.
Independence Contract Drilling Inc. (ICD) has around 300 employees, a market worth around $24.99M and $83.40M in sales. Fwd P/E is 1.50. Distance from 52-week low is 78.30% and -59.09% from its 52-week high. The company has generated returns on investments over the last 12 months (-20.90%).
Independence Contract Drilling Inc. (ICD) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Independence Contract Drilling Inc. (ICD) is a “Hold”. 1 analysts offering their recommendations for the stock have an average rating of 3.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Independence Contract Drilling Inc. is expected to release its quarterly report on 07/29/2021 and quarterly earnings per share for the current quarter are estimated at -$2.74 with sales reaching $19M over the same period.The EPS is expected to shrink by -22.30% this year, but quarterly earnings will post -5.90% year-over-year. Quarterly sales are estimated to shrink -50.60% in year-over-year returns.
Independence Contract Drilling Inc. (ICD) Top Institutional Holders
31 institutions hold shares in Independence Contract Drilling Inc. (ICD), with 129.16k shares held by insiders accounting for 2.10% while institutional investors hold 17.98% of the company’s shares. The shares outstanding are 6.14M, and float is at 6.02M with Short Float at 4.60%. Institutions hold 17.60% of the Float.
The top institutional shareholder in the company is MSD Partners, L.P. with over 0.72 million shares valued at $2.13 million. The investor’s holdings represent 11.10% of the ICD Shares outstanding. As of Dec 30, 2020, the second largest holder is MSD Capital, L.P. with 0.17 million shares valued at $0.5 million to account for 2.63% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 97352.0 shares representing 1.49% and valued at over $0.29 million, while FMR, LLC holds 0.73% of the shares totaling 47362.0 with a market value of $0.14 million.
Independence Contract Drilling Inc. (ICD) Insider Activity
A total of 0 insider transactions have happened at Independence Contract Drilling Inc. (ICD) in the last six months, with sales accounting for 0 and purchases happening 0 times. The most recent transaction is an insider sale by MSD CAPITAL L P, the company’s Director. SEC filings show that MSD CAPITAL L P sold 9,600 shares of the company’s common stock on Mar 30 at a price of $3.36 per share for a total of $32256.0. Following the sale, the insider now owns 0.12 million shares.
Independence Contract Drilling Inc. disclosed in a document filed with the SEC on Mar 30 that MSD Partners, L.P. (Director) sold a total of 40,400 shares of the company’s common stock. The trade occurred on Mar 30 and was made at $3.36 per share for $0.14 million. Following the transaction, the insider now directly holds 0.52 million shares of the ICD stock.
Still, SEC filings show that on Mar 29, MSD CAPITAL L P (Director) disposed off 12,309 shares at an average price of $3.66 for $45051.0. The insider now directly holds 131,933 shares of Independence Contract Drilling Inc. (ICD).
Independence Contract Drilling Inc. (ICD): Who are the competitors?
The company’s main competitors (and peers) include Nabors Industries Ltd. (NBR) that is trading 541.76% up over the past 12 months. Short interest in the company’s stock has fallen -242.65% from the last report on Apr 14, 2021 to stand at a total of 0.28 million short shares sold with a short interest ratio of 1.41.