IM Cannabis Corp. (NASDAQ:IMCC) Sees Large Decline in Short Interest

IM Cannabis Corp. (NASDAQ:IMCC) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 214,028 shares, a drop of 42.7% from the June 30th total of 373,494 shares. Based on an average daily trading volume, of 381,600 shares, the days-to-cover ratio is currently 0.6 days. Approximately 3.7% of the shares of the company are short sold.

IM Cannabis Stock Up 6.8%

Shares of IM Cannabis stock traded up $0.01 during trading hours on Thursday, reaching $0.12. 1,891,327 shares of the stock traded hands, compared to its average volume of 2,485,689. The company has a 50 day moving average price of $0.19 and a 200 day moving average price of $0.55. The firm has a market capitalization of $718,410.00, a price-to-earnings ratio of -0.07 and a beta of 2.04. IM Cannabis has a one year low of $0.10 and a one year high of $3.13.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IM Cannabis in a report on Tuesday, July 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Trading of IM Cannabis

An institutional investor recently bought a new position in IM Cannabis stock. DRW Securities LLC bought a new stake in shares of IM Cannabis Corp. (NASDAQ:IMCC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned about 0.39% of IM Cannabis at the end of the most recent quarter. Hedge funds and other institutional investors own 7.68% of the company’s stock.

IM Cannabis Company Profile

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.