InterCloud Systems Inc (ICLD) started the trading day on a down note, making it one of the worst performing stocks in the technology sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 22. Shares of ICLD have fallen 6.35% about 30 minutes into the session to $0.14 after closing the day prior at $0.15. It’s early, but the stock has traded as high as $0.15 and as low as $0.13 so far. Today’s quick decline has come with about 119,906 shares changing hands, compared to an average 30-day volume of 965,902 for InterCloud Systems Inc. The price is currently below the 30-day volume weighted average price of $0.13 for ICLD.
The share depreciation gives the company a market capitalization of $5.75 million based upon 38.46 million shares outstanding. It also means that ICLD has a price-to-book ratio of 0.93:1.
In the past 52 weeks, shares of ICLD have traded as low as $0.13 and as high as $1.99. Technical traders will take note that at $0.14, shares of ICLD are trading below their 200-day MA at $0.69 and below their 50-day MA at $0.41. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is ICLD?
InterCloud Systems Inc is a provider of cloud and managed service based platforms, professional services, applications and infrastructure to corporate enterprises and telecommunications industry. The company’s 529 employees are led by CEO Mark Munro from the corporate headquarters at 1030 Broad Street in Shrewsbury, NJ.
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