Intellinetics (OTCMKTS:INLX) Trading 1.3% Higher – Still a Buy?

Intellinetics, Inc. (OTCMKTS:INLX)’s stock price traded up 1.3% on Friday . The company traded as high as $8.01 and last traded at $8.1050. 312 shares traded hands during trading, a decline of 91% from the average session volume of 3,312 shares. The stock had previously closed at $8.00.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Intellinetics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Intellinetics presently has an average rating of “Hold”.

Intellinetics Stock Up 1.3%

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 stock has a market capitalization of $36.30 million, a P/E ratio of 54.04 and a beta of 0.15. The business has a 50-day moving average price of $8.13 and a 200 day moving average price of $9.68.

Institutional Trading of Intellinetics

A hedge fund recently bought a new stake in Intellinetics stock. Essex Financial Services Inc. bought a new stake in shares of Intellinetics, Inc. (OTCMKTS:INLX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,338 shares of the company’s stock, valued at approximately $90,000. Essex Financial Services Inc. owned approximately 0.25% of Intellinetics at the end of the most recent quarter. 0.75% of the stock is currently 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.