IceCure Medical Ltd. (NASDAQ:ICCM) Short Interest Down 66.3% in July

IceCure Medical Ltd. (NASDAQ:ICCM) was the target of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 37,525 shares, a decrease of 66.3% from the July 15th total of 111,279 shares. Based on an average daily trading volume, of 74,572 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On IceCure Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of IceCure Medical in the fourth quarter worth approximately $39,000. Concurrent Investment Advisors LLC bought a new position in IceCure Medical during the 4th quarter worth approximately $48,000. Finally, Jane Street Group LLC bought a new position in IceCure Medical during the 4th quarter worth approximately $67,000. 0.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on ICCM. Wall Street Zen upgraded IceCure Medical to a “sell” rating in a research report on Sunday, July 12th. Alliance Global Partners assumed coverage on shares of IceCure Medical in a research note on Monday, May 4th. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IceCure Medical in a report on Friday, July 17th. Finally, Maxim Group lowered their price objective on shares of IceCure Medical from $90.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $52.50.

IceCure Medical Price Performance

Shares of IceCure Medical stock traded up $0.02 during trading on Friday, hitting $3.02. The company’s stock had a trading volume of 49,231 shares, compared to its average volume of 1,344,160. The stock has a market cap of $10.36 million, a price-to-earnings ratio of -0.35 and a beta of 0.47. IceCure Medical has a 52 week low of $2.12 and a 52 week high of $42.00. The stock has a 50-day moving average price of $3.95 and a two-hundred day moving average price of $9.83.

IceCure Medical (NASDAQ:ICCM) last announced its earnings results on Tuesday, June 30th. The company reported ($1.64) EPS for the quarter. IceCure Medical had a negative return on equity of 188.60% and a negative net margin of 427.67%.The company had revenue of $0.91 million for the quarter. On average, equities analysts predict that IceCure Medical will post -3.51 EPS for the current fiscal year.

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.