Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Grows By 708.3%
by Scott Moore · The Cerbat GemIM Cannabis Corp. (NASDAQ:IMCC – Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 60,258 shares, a growth of 708.3% from the March 15th total of 7,455 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 1,024,242 shares, the days-to-cover ratio is currently 0.1 days.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of IM Cannabis in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.
Check Out Our Latest Report on IMCC
Institutional Investors Weigh In On IM Cannabis
Large investors have recently bought and sold shares of the business. Hidden Cove Wealth Management LLC bought a new stake in IM Cannabis in the 3rd quarter worth about $27,000. DRW Securities LLC bought a new stake in IM Cannabis in the 4th quarter worth about $32,000. Finally, Yorkville Advisors Global LP bought a new stake in IM Cannabis in the 3rd quarter worth about $1,452,000. 7.68% of the stock is currently owned by institutional investors.
IM Cannabis Stock Up 1.7%
Shares of NASDAQ:IMCC traded up $0.01 on Friday, hitting $0.36. 74,599 shares of the company traded hands, compared to its average volume of 728,896. IM Cannabis has a 52 week low of $0.30 and a 52 week high of $7.12. The stock has a 50 day simple moving average of $0.76 and a 200-day simple moving average of $1.30. The company has a market cap of $2.24 million, a PE ratio of -0.26 and a beta of 2.32. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 0.25.
IM Cannabis (NASDAQ:IMCC – Get Free Report) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.95). IM Cannabis had a negative return on equity of 585.96% and a negative net margin of 21.24%.The business had revenue of $11.25 million during the quarter, compared to the consensus estimate of $15.66 million.
About IM Cannabis
IM Cannabis Corp is a vertically integrated medical cannabis company based in Israel, specializing in the research, cultivation and production of cannabis-based formulations. The company holds three key licenses granted by the Israeli Ministry of Health, covering cultivation, possession and distribution of medical-grade cannabis. Its production facilities in Moshav Yizrael feature controlled-environment agriculture chambers designed to deliver consistent, high-purity cannabinoid profiles.
The company’s product portfolio includes standardized cannabis oils, distillates, vaporizer cartridges and topical preparations, all formulated under Good Manufacturing Practice (GMP) standards.