DA Davidson Initiates Coverage on Independence Contract Drilling Inc to Buy

DA Davidson Initiates Coverage on Independence Contract Drilling Inc(NYSE:ICD). The shares have been rated Buy. The rating by DA Davidson was issued on Sep 15, 2016.

Independence Contract Drilling Inc (ICD) shares turned negative on Tuesdays trading session with the shares closing down -0.08 points or -1.66% at a volume of 41,612. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.85. The peak price level was also seen at $4.85 while the days lowest was $4.71. Finally the shares closed at $4.74. The 52-week high of the shares is $7.93 while the 52-week low is $3.335. According to the latest information available, the market cap of the company is $178 M.

Independence Contract Drilling Inc(ICD) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $15.15M. Analysts had an estimated revenue of $15.15M. Earnings per share were $-0.07. Analysts had estimated an EPS of $-0.10.

Several Insider Transactions has been reported to the SEC. On Oct 1, 2015, David C Brown (officer ) purchased 500 shares at $4.99 per share price.Also, On May 13, 2015, Joseph Scott Thompson (officer ) purchased 5,000 shares at $7.90 per share price.

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