Intellinetics (OTCMKTS:INLX) Trading 1.3% Higher – Here’s What Happened

Shares of Intellinetics, Inc. (OTCMKTS:INLX) were up 1.3% during mid-day trading on Friday . The stock traded as high as $8.01 and last traded at $8.1050. Approximately 312 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 3,312 shares. The stock had previously closed at $8.00.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Intellinetics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Intellinetics Stock Performance

The company has a market cap of $36.30 million, a PE ratio of 54.04 and a beta of 0.15. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $8.13 and its two-hundred day moving average is $9.68.

Institutional Investors Weigh In On Intellinetics

An institutional investor recently bought a new position in Intellinetics stock. Essex Financial Services Inc. acquired a new stake in shares of Intellinetics, Inc. (OTCMKTS:INLX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,338 shares of the company’s stock, valued at approximately $90,000. Essex Financial Services Inc. owned about 0.25% of Intellinetics at the end of the most recent reporting period. 0.75% of the stock is owned by institutional investors and hedge funds.

About Intellinetics

Intellinetics, Inc, traded on the OTC Markets under the ticker INLX, is a Houston-based provider of enterprise content management, document imaging, and workflow automation solutions. The company designs and implements systems that enable organizations to capture, store, and retrieve both digital and paper documents through intuitive interfaces and seamless integration with existing IT environments.

The firm’s flagship platform, Info-Share, combines document capture, optical character recognition (OCR) and configurable workflow tools to streamline processes such as billing, accounts payable, and records management.