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Zacks Investment Research downgraded Independence Contract Drilling Inc (NYSE:ICD) to Sell in a report released today.

Zacks Investment Research has downgraded Independence Contract Drilling Inc (NYSE:ICD) to Sell in a report released on 10/11/2016.

Yesterday Independence Contract Drilling Inc (NYSE:ICD) traded 0.18% higher at $5.63. The company’s 50-day moving average is $5.14 and its 200-day moving average is $4.84. The last closing price is up 16.21% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 222,453 shares of the stock traded hands, down from an average trading volume of 283,895

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Independence Contract Drilling Inc (NYSE:ICD)

Independence Contract Drilling Inc has a 52 week low of $3.34 and a 52 week high of $7.93 The company’s market cap is currently $0.

In addition to Zacks Investment Research reporting its stock price target, a total of 11 brokers have issued a report on the company. The average stock price target is $6.64 with 1 broker rating the stock a strong buy, 8 brokers rating the stock a buy, 2 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

General Information About Independence Contract Drilling Inc (NYSE:ICD)

Independence Contract Drilling, Inc. provides land-based contract drilling services for oil and natural gas producers in the United States. The company constructs, owns, and operates a fleet of ShaleDriller rigs to optimize the development of various oil and gas properties in the Permian Basin. As of December 31, 2015, it had 14 ShaleDriller rigs. The company was founded in 2011 and is headquartered in Houston, Texas.

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