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Icon Energy Corp. ( (ICON) ) has provided an update.
On January 21, 2026, Icon Energy Corp. reported that it has raised approximately $3.5 million by selling an aggregate of 1,136,470 common shares at an average price of $3.11 per share under its Standby Equity Purchase Agreement with an investor, originally entered into on August 27, 2025. The company highlighted that the shares were sold at prices exceeding the volume-weighted average market price over the relevant period, and said the proceeds will be used for general corporate purposes and to pursue potential growth opportunities and strategic initiatives; following these issuances, Icon’s share count stands at 2,508,470 common shares outstanding, reflecting the company’s ongoing use of the SEPA as a flexible capital-raising tool.
The most recent analyst rating on (ICON) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Icon Energy Corp. stock, see the ICON Stock Forecast page.
Spark’s Take on ICON Stock
According to Spark, TipRanks’ AI Analyst, ICON is a Neutral.
The score is weighed down primarily by weak financial performance (loss-making year, higher leverage, and sharply negative free cash flow) and a clearly bearish technical setup (price below all key moving averages with negative MACD). Valuation is difficult to assess without a P/E; the very high dividend yield slightly offsets the score but is tempered by profitability and cash-flow risks.
To see Spark’s full report on ICON stock, click here.
More about Icon Energy Corp.
Icon Energy Corp. is an international shipping company headquartered in Athens, Greece, providing worldwide seaborne transportation services for dry bulk cargoes through a fleet of oceangoing vessels. The company’s common shares trade on the Nasdaq Capital Market under the symbol “ICON.”
Average Trading Volume: 895,887
Technical Sentiment Signal: Sell
Current Market Cap: $1.6M
For detailed information about ICON stock, go to TipRanks’ Stock Analysis page.