Independence Contract Drilling (NYSE:ICD) Stock Crosses Below 200 Day Moving Average of $3.60

Shares of Independence Contract Drilling, Inc. (NYSE:ICD – Get Rating) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.60 and traded as low as $2.96. Independence Contract Drilling shares last traded at $3.03, with a volume of 128,753 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com cut Independence Contract Drilling from a “hold” rating to a “sell” rating in a research note on Friday, March 10th.

Independence Contract Drilling Stock Down 1.9 %

The company has a 50 day moving average of $4.05 and a two-hundred day moving average of $3.60. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 0.67.

Insider Activity at Independence Contract Drilling

In related news, major shareholder Msd Capital L. P sold 57,177 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $2.96, for a total value of $169,243.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Msd Capital L. P sold 57,177 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $2.96, for a total value of $169,243.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Msd Partners, L.P. sold 63,607 shares of the stock in a transaction on Monday, December 19th. The shares were sold at an average price of $3.02, for a total value of $192,093.14. Following the completion of the transaction, the director now owns 1,954,794 shares of the company’s stock, valued at approximately $5,903,477.88. The disclosure for this sale can be found here. Insiders sold 377,340 shares of company stock valued at $1,121,646 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Independence Contract Drilling

Hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP boosted its position in shares of Independence Contract Drilling by 141.7% in the 4th quarter. Two Sigma Investments LP now owns 145,110 shares of the oil and gas company’s stock valued at $475,000 after purchasing an additional 85,083 shares during the period. Dimensional Fund Advisors LP boosted its position in Independence Contract Drilling by 126.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 114,996 shares of the oil and gas company’s stock worth $475,000 after acquiring an additional 64,156 shares during the period. Susquehanna International Group LLP boosted its position in Independence Contract Drilling by 149.0% during the 4th quarter. Susquehanna International Group LLP now owns 42,764 shares of the oil and gas company’s stock worth $140,000 after acquiring an additional 25,587 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Independence Contract Drilling during the 1st quarter worth about $106,000. Finally, State Street Corp boosted its position in Independence Contract Drilling by 65.9% during the 1st quarter. State Street Corp now owns 24,483 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 9,721 shares during the period. Institutional investors and hedge funds own 42.29% of the company’s stock.

Independence Contract Drilling Company Profile

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Independence Contract Drilling, Inc engages in the provision of land-based contract drilling services for oil and natural gas producers. It develops and assembles the sharedriller series rig design. Its series are AC programmable, and energy efficient BiFuel. The company was founded by Philip A. Choyce and Byron A.