Independence Contract Drilling Stock Buy Hold or Sell Recommendation
| ICD Stock | USD 1.85 0.07 3.65% |
Considering the 90-day investment horizon and your above-average risk tolerance, our recommendation regarding Independence Contract Drilling is 'Strong Sell'. Macroaxis provides Independence Contract buy-hold-or-sell recommendation only in the context of selected investment horizon and investor attitude towards risk assumed by holding ICD positions. The advice algorithm takes into account all of Independence Contract's available fundamental, technical, and predictive indicators you will find on this site. Key drivers impacting Independence Contract's buy or sell advice are summarized below:
Real Value 2.49 | Target Price 4.67 | Hype Value 1.88 | Market Value 1.85 | Naive Value 1.77 |
A buy or sell recommendation provided by Macroaxis is an automated directive regarding whether to purchase or sell Independence Contract Drilling given historical horizon and risk tolerance towards Independence Contract. When Macroaxis issues a 'buy' or 'sell' recommendation for Independence Contract Drilling, the advice is generated through an automated system that utilizes algorithms and statistical models.
Independence |
Execute Independence Contract Buy or Sell Advice
The Independence recommendation should be used to complement the buy-or-sell advice compiled from the current analysts' consensus on Independence Contract Drilling. Macroaxis does not own or have any residual interests in Independence Contract Drilling or other equities on which the buy-or-sell advice is provided. Please provide your input below to execute Independence Contract's advice using the current market data and latest reported fundamentals.
Time Horizon
Risk Tolerance
 |  |
Strong Sell
Market Performance | Very Weak | Details | |
Volatility | Risky | Details | |
Hype Condition | Under hyped | Details | |
Current Valuation | Undervalued | Details | |
Odds Of Distress | Quite High | Details | |
Economic Sensitivity | Almost neglects market trends | Details | |
Investor Sentiment | Alarmed | Details | |
Analyst Consensus | Strong Buy | Details | |
Financial Strenth (F Score) | Healthy | Details | |
Financial Leverage | Inapplicable | Details | |
Reporting Quality (M-Score) | Unlikely Manipulator | Details |
Independence Contract Trading Alerts and Improvement Suggestions
| Independence Contract generated a negative expected return over the last 90 days | |
| Independence Contract may become a speculative penny stock | |
| Independence Contract has high historical volatility and very poor performance | |
| Independence Contract has high likelihood to experience some financial distress in the next 2 years | |
| The company reported the last year's revenue of 210.11 M. Reported Net Loss for the year was (37.7 M) with profit before taxes, overhead, and interest of 63.31 M. | |
| About 13.0% of the company shares are held by company insiders | |
| Latest headline from finance.yahoo.com: Independence Contract Drilling, Inc. Announces Timing of First Quarter 2024 Financial Results and Conference Call |
Independence Contract Returns Distribution Density
The distribution of Independence Contract's historical returns is an attempt to chart the uncertainty of Independence Contract's future price movements. The chart of the probability distribution of Independence Contract daily returns describes the distribution of returns around its average expected value. We use Independence Contract Drilling price's Value At Risk and its Upside Potential as a relative measure of the distribution. The graph of the distribution of Independence Contract returns is essential to provide solid investment advice for Independence Contract.
| Mean Return | -0.09 | Value At Risk | -4.57 | Potential Upside | 3.40 | Standard Deviation | 2.99 |
Return Density |
| Distribution |
Investment risk management requires an estimate of the probability of extreme price changes. Therefore, the correct representation of the distribution of Independence Contract historical returns presented in an easy-to-digest graphical form helps investors and money managers understand the risk-reward trade-off of different investement strategies.
Independence Stock Institutional Investors
Have you ever been surprised when a price of an equity instrument such as Independence Contract is soaring high without any particular reason? This is usually happening because many institutional investors are aggressively trading Independence Contract Drilling backward and forwards among themselves. Independence Contract's institutional investor refers to the entity that pools money to purchase Independence Contract's securities or originates loans. Institutional investors include commercial and private banks, credit unions, insurance companies, pension funds, hedge funds, endowments, and mutual funds. Operating companies that invest excess capital in these types of assets may also be included in the term and may influence corporate governance by exercising voting rights in their investments.
| Shares | Blackrock Inc | 2023-09-30 | 65.9 K | E & G Advisors Lp | 2023-12-31 | 54.6 K | Susquehanna International Group, Llp | 2023-09-30 | 49.3 K | Millennium Management Llc | 2023-09-30 | 34.5 K | State Street Corporation | 2023-09-30 | 31.6 K | Squarepoint Ops Llc | 2023-09-30 | 27 K | Bank Of New York Mellon Corp | 2023-09-30 | 23.9 K | Acadian Asset Management Llc | 2023-09-30 | 18.7 K | Northern Trust Corp | 2023-09-30 | 17.3 K | Msd Partners, L.p. | 2023-09-30 | 1.7 M | Tejara Capital Ltd | 2023-09-30 | 439.9 K |
Independence Contract Cash Flow Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Change To Inventory | (349K) | 117K | (133K) | (365K) | (249K) | (261.5K) | |
| Change In Cash | (7.0M) | 7.1M | (8.1M) | 1.2M | 239K | 370.9K | |
| Free Cash Flow | (10.4M) | (13.9M) | (26.0M) | (14.5M) | 20.4M | 21.4M | |
| Depreciation | 45.4M | 43.9M | 38.9M | 40.4M | 43.5M | 31.7M | |
| Other Non Cash Items | 42.0M | 42.7M | (2.6M) | 63.2M | 50.4M | 52.9M | |
| Capital Expenditures | 38.3M | 14.2M | 16.4M | 43.0M | 40.7M | 37.3M | |
| Net Income | (60.8M) | (96.6M) | (66.7M) | (65.3M) | (37.7M) | (39.6M) | |
| End Period Cash Flow | 5.2M | 12.3M | 4.1M | 5.3M | 5.6M | 7.4M | |
| Change To Netincome | 42.9M | 43.6M | 17.1M | 60.5M | 69.6M | 73.0M | |
| Change Receivables | (1.0M) | 5.7M | 26.0M | (17.8M) | (20.5M) | (19.5M) | |
| Net Borrowings | (5.6M) | 10.0M | 2.7M | 16.6M | 19.1M | 15.6M | |
| Investments | (28.4M) | 145K | (14.4M) | (38.3M) | (52.3M) | (49.7M) |
Independence Contract Greeks
Most traded equities are subject to two types of risk - systematic (i.e., market) and unsystematic (i.e., nonmarket or company-specific) risk. Unsystematic risk is the risk that events specific to Independence Contract or Energy Equipment & Services sector will adversely affect the stock's price. This type of risk can be diversified away by owning several different stocks in different industries whose stock prices have shown a small correlation to each other. On the other hand, systematic risk is the risk that Independence Contract's price will be affected by overall stock market movements and cannot be diversified away. So, no matter how many positions you have, you cannot eliminate market risk. However, you can measure a Independence stock's historical response to market movements and buy it if you are comfortable with its volatility direction. Beta and standard deviation are two commonly used measures to help you make the right decision.
α | Alpha over NYSE Composite | -0.07 | |
β | Beta against NYSE Composite | -0.25 | |
σ | Overall volatility | 3.10 | |
Ir | Information ratio | -0.06 |
Independence Contract Volatility Alert
Independence Contract Drilling exhibits very low volatility with skewness of 1.07 and kurtosis of 3.7. Understanding different market volatility trends often help investors to time the market. Properly using volatility indicators enable traders to measure Independence Contract's stock risk against market volatility during both bullish and bearish trends. The higher level of volatility that comes with bear markets can directly impact Independence Contract's stock price while adding stress to investors as they watch their shares' value plummet. This usually forces investors to rebalance their portfolios by buying different financial instruments as prices fall.Independence Contract Fundamentals Vs Peers
Comparing Independence Contract's fundamentals to the average values of its peers is one of the most widely used and accepted methods of equity analyses. It helps to analyze Independence Contract's direct or indirect competition across all of the common fundamentals between Independence Contract and the related equities. This way, we can detect undervalued stocks with similar characteristics as Independence Contract or determine the stocks which would be an excellent addition to an existing portfolio. Peer analysis of Independence Contract's fundamental indicators could also be used in its relative valuation, which is a method of valuing Independence Contract by comparing valuation metrics with those of similar companies.
| Better Than Average | Worse Than Average | Compare Independence Contract to competition |
| Fundamentals | Independence Contract | Peer Average |
| Return On Equity | -0.19 | -0.31 |
| Return On Asset | 0.017 | -0.14 |
| Profit Margin | (0.18) % | (1.27) % |
| Operating Margin | (0.06) % | (5.51) % |
| Current Valuation | 181.83 M | 16.62 B |
| Shares Outstanding | 15.27 M | 571.82 M |
| Shares Owned By Insiders | 12.80 % | 10.09 % |
| Shares Owned By Institutions | 38.37 % | 39.21 % |
| Number Of Shares Shorted | 559.47 K | 4.71 M |
| Price To Earning | (4.01) X | 28.72 X |
| Price To Book | 0.17 X | 9.51 X |
| Price To Sales | 0.14 X | 11.42 X |
| Revenue | 210.11 M | 9.43 B |
| Gross Profit | 63.31 M | 27.38 B |
| EBITDA | 54.77 M | 3.9 B |
| Net Income | (37.7 M) | 570.98 M |
| Cash And Equivalents | 5.33 M | 2.7 B |
| Cash Per Share | 0.54 X | 5.01 X |
| Total Debt | 158.08 M | 5.32 B |
| Debt To Equity | 0.59 % | 48.70 % |
| Current Ratio | 1.04 X | 2.16 X |
| Book Value Per Share | 12.59 X | 1.93 K |
| Cash Flow From Operations | 61.02 M | 971.22 M |
| Short Ratio | 5.33 X | 4.00 X |
| Earnings Per Share | (2.69) X | 3.12 X |
| Price To Earnings To Growth | (0.96) X | 4.89 X |
| Target Price | 4.5 | |
| Number Of Employees | 450 | 18.84 K |
| Beta | 4.96 | -0.15 |
| Market Capitalization | 29.31 M | 19.03 B |
| Total Asset | 511.24 M | 29.47 B |
| Retained Earnings | (436.79 M) | 9.33 B |
| Working Capital | 2.99 M | 1.48 B |
Note: Disposition of 2750 shares by Vincent Cebula of Independence Contract subject to Rule 16b-3 [view details]
Independence Contract Market Momentum
Traders often use several daily momentume indicators to supplement a more traditional technical analysis when analyzing securities such as Independence . With many different options, investors must choose the best indicators for them and familiarize themselves with how they work. We suggest combining traditional momentum indicators with more near-term forms of technical analysis such as Accumulation Distribution or Daily Balance Of Power. With their quantitative nature, daily value technical indicators can also be incorporated into your automated trading systems.
About Independence Contract Buy or Sell Advice
When is the right time to buy or sell Independence Contract Drilling? Buying financial instruments such as Independence Stock isn't very hard. However, what challenging for most investors is doing it at the right time to beat the market. Proper market timing is something most people cannot do without sophisticated tools, which help to isolate the right opportunities. Macroaxis provides hands-on modules to deliver winning trades and diversify your portfolios on a daily basis. Most of our advising modules are very easy to use and apply.
Please read more on our stock advisor page.| 2021 | 2022 | 2023 | 2024 (projected) | Other Current Liabilities | 17.9M | 16.6M | 14.9M | 12.8M | Total Assets | 397.1M | 429.7M | 511.2M | 404.9M |
Use Investing Ideas to Build Portfolios
In addition to having Independence Contract in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Did You Try This Idea?
Run Investor Favorites Thematic Idea Now
Investor Favorites
Macroaxis most traded equities with largest long positions over the last 2 years. The Investor Favorites theme has 21 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Investor Favorites Theme or any other thematic opportunities.
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Check out Independence Contract Analyst Recommendation to compare Macroaxis Buy or Sell Recommendation with the current analyst consensus. To check ratings for multiple equity instruments, please use the Instant Ratings tool. Note that the Independence Contract information on this page should be used as a complementary analysis to other Independence Contract's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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When running Independence Contract's price analysis, check to measure Independence Contract's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Independence Contract is operating at the current time. Most of Independence Contract's value examination focuses on studying past and present price action to predict the probability of Independence Contract's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Independence Contract's price. Additionally, you may evaluate how the addition of Independence Contract to your portfolios can decrease your overall portfolio volatility.
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Is Independence Contract's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Independence Contract. If investors know Independence will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Independence Contract listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (2.69) | Revenue Per Share 14.995 | Quarterly Revenue Growth (0.24) | Return On Assets 0.017 | Return On Equity (0.19) |
The market value of Independence Contract is measured differently than its book value, which is the value of Independence that is recorded on the company's balance sheet. Investors also form their own opinion of Independence Contract's value that differs from its market value or its book value, called intrinsic value, which is Independence Contract's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Independence Contract's market value can be influenced by many factors that don't directly affect Independence Contract's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Independence Contract's value and its price as these two are different measures arrived at by different means. Investors typically determine if Independence Contract is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Independence Contract's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.