IceCure Medical Ltd. (NASDAQ:ICCM) Short Interest Up 263.7% in June

IceCure Medical Ltd. (NASDAQ:ICCM) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 325,222 shares, an increase of 263.7% from the June 15th total of 89,416 shares. Based on an average daily volume of 19,668,919 shares, the short-interest ratio is presently 0.0 days. Approximately 9.7% of the shares of the stock are short sold.

Institutional Trading of IceCure Medical

A number of institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of IceCure Medical in the fourth quarter worth $39,000. Concurrent Investment Advisors LLC bought a new stake in IceCure Medical during the 4th quarter valued at $48,000. Finally, Jane Street Group LLC purchased a new stake in IceCure Medical during the 4th quarter valued at $67,000. Hedge funds and other institutional investors own 0.62% of the company’s stock.

IceCure Medical Stock Down 3.0%

Shares of ICCM traded down $0.11 during trading hours on Monday, hitting $3.54. The company had a trading volume of 98,576 shares, compared to its average volume of 10,147,848. IceCure Medical has a 52-week low of $2.12 and a 52-week high of $42.00. The stock’s 50 day moving average price is $5.60 and its 200 day moving average price is $12.53. The firm has a market cap of $12.14 million, a P/E ratio of -0.49 and a beta of 0.43.

IceCure Medical (NASDAQ:ICCM) last issued its earnings results on Tuesday, May 12th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). IceCure Medical had a negative net margin of 441.60% and a negative return on equity of 211.73%. The company had revenue of $0.91 million for the quarter, compared to analysts’ expectations of $1.34 million. On average, research analysts expect that IceCure Medical will post -3.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ICCM shares. Alliance Global Partners started coverage on shares of IceCure Medical in a report on Monday, May 4th. They issued a “buy” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of IceCure Medical in a research report on Tuesday, April 21st. Maxim Group cut their target price on IceCure Medical from $90.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of IceCure Medical to a “sell” rating in a research report on Sunday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.70.

IceCure Medical Company Profile

IceCure Medical Ltd. (NASDAQ: ICCM) is a clinical-stage medical device company specializing in the development and commercialization of proprietary cryoablation systems for the treatment of tumors and other pathological tissues. The company’s core technology employs a unique liquid-nitrogen-based platform to deliver rapid cooling through fine-gauge cryoprobes, enabling precise and minimally invasive tissue ablation under imaging guidance. IceCure’s lead product, ProSense, is designed to offer a single-probe approach that can be deployed in an outpatient setting, reducing procedure time and patient recovery periods.

Originally founded in Israel, IceCure Medical obtained its first CE mark for the treatment of benign breast tumors and fibroadenomas in 2017.