Intellinetics (OTCMKTS:INLX) Trading Down 2.2% - Here's What Happened

Key Points

• Intellinetics, Inc. saw its share price decline by 2.2% during midday trading, closing at $11.30 after a previous close of $11.55.
• The stock experienced a significant drop in trading volume, with only 143 shares changing hands, which is 97% lower than the average volume of 5,178 shares.
• Zacks Research upgraded the stock to a "hold" rating on August 8th, contributing to its current average rating of "hold" from analysts.

Intellinetics, Inc. (OTCMKTS:INLX - Get Free Report)'s share price was down 2.2% during mid-day trading on Thursday . The stock traded as low as $11.30 and last traded at $11.30. Approximately 143 shares changed hands during trading, a decline of 97% from the average daily volume of 5,178 shares. The stock had previously closed at $11.55.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Intellinetics to a "hold" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold".

Intellinetics Trading Down 2.2%

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.89. The company has a market cap of $50.61 million, a PE ratio of 75.34 and a beta of 0.20. The company's 50 day simple moving average is $11.31 and its two-hundred day simple moving average is $12.30.

About Intellinetics

Intellinetics, Inc designs, develops, tests, markets, and licenses document services and software solutions in the United States. The company operates in two segments, Document Management and Document Conversion. Its software platform allows its customers to capture and manage documents across operations, such as scanned hard-copy documents and digital documents, including Microsoft Office 365, digital images, audio, videos, and emails.

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