IM Cannabis Stock Set to Reverse Split on Thursday, August 27th (NASDAQ:IMCC)
by Danessa Lincoln · The Markets DailyIM Cannabis Corp. (NASDAQ:IMCC – Free Report) shares are set to reverse split on the morning of Thursday, August 27th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, August 26th.
IM Cannabis Stock Up 1.0%
NASDAQ IMCC traded up $0.00 on Wednesday, hitting $0.11. 1,632,511 shares of the company were exchanged, compared to its average volume of 6,516,137. IM Cannabis has a 1-year low of $0.09 and a 1-year high of $2.61. The firm has a 50 day moving average of $0.15 and a two-hundred day moving average of $0.42.
IM Cannabis (NASDAQ:IMCC – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) EPS for the quarter. The company had revenue of $5.34 million for the quarter. IM Cannabis had a negative return on equity of 585.96% and a negative net margin of 39.62%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of IM Cannabis in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, IM Cannabis currently has a consensus rating of “Sell”.
Get Our Latest Stock Analysis on IMCC
Institutional Investors Weigh In On IM Cannabis
A hedge fund recently bought a new position in IM Cannabis stock. DRW Securities LLC bought a new position in shares of IM Cannabis Corp. (NASDAQ:IMCC – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned 0.39% of IM Cannabis as of its most recent filing with the Securities and Exchange Commission. 7.68% of the stock is currently owned by institutional investors.
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.