The Somewhat Critical Media Coverage Somewhat Unlikely to Impact Ikonics Corporation (IKNX) Stock Price

The Somewhat Critical Media Coverage Somewhat Unlikely to Impact Ikonics Corporation (IKNX) Stock Price

News stories about Ikonics Corporation (NASDAQ:IKNX) have trended somewhat negative this week, according to Accern Sentiment Analysis. The research firm ranks the sentiment of media coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Ikonics Corporation earned a daily sentiment score of -0.06 on Accern’s scale. Accern also gave media headlines about the specialty chemicals company an impact score of 47.5462810260163 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

Shares of Ikonics Corporation (NASDAQ:IKNX) traded up 0.000% on Thursday, hitting $8.156. The company’s stock had a trading volume of 1,800 shares. Ikonics Corporation has a 52 week low of $7.40 and a 52 week high of $12.00. The firm’s market cap is $16.45 million. The stock’s 50-day moving average price is $8.44 and its 200-day moving average price is $8.61.

Ikonics Corporation (NASDAQ:IKNX) last released its earnings results on Thursday, August 3rd. The specialty chemicals company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $4.69 million for the quarter. Ikonics Corporation had a negative return on equity of 2.99% and a negative net margin of 2.24%.

Ikonics Corporation announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 3rd that allows the company to buyback 100,000 shares. This buyback authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In related news, insider Joseph R. Nerges sold 3,550 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $8.78, for a total transaction of $31,169.00. Following the completion of the sale, the insider now directly owns 382,996 shares in the company, valued at approximately $3,362,704.88. The sale was disclosed in a filing with the SEC, which is available through this link. 24.26% of the stock is owned by corporate insiders.

Ikonics Corporation Company Profile

IKONICS Corporation is engaged in the development and manufacturing of photochemical imaging systems for sale primarily to a range of printers and decorators of surfaces. The Company has five operating segments: Domestic, Export, IKONICS Imaging, Digital Texturing (DTX) and Advanced Material Solutions (AMS).

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