IceCure Medical Ltd. (NASDAQ:ICCM) Stock Short Interest Falls 49.2%

IceCure Medical Ltd. (NASDAQ:ICCM) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 52,159 shares, a drop of 49.2% from the September 15th total of 102,639 shares. Based on an average daily volume of 123,547 shares, the short-interest ratio is presently 0.4 days. Currently, 1.6% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ICCM shares. Weiss Ratings reissued a “sell (e+)” rating on shares of IceCure Medical in a research note on Friday, July 17th. Zacks Research raised shares of IceCure Medical from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Wall Street Zen cut IceCure Medical from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.00.

IceCure Medical Stock Performance

Shares of NASDAQ:ICCM remained flat at $1.04 during midday trading on Thursday. The company had a trading volume of 93,379 shares, compared to its average volume of 1,090,160. The stock has a fifty day moving average price of $2.11 and a 200 day moving average price of $4.79. The company has a market capitalization of $3.57 million, a PE ratio of -0.12 and a beta of 0.43. IceCure Medical has a 1 year low of $0.96 and a 1 year high of $26.10.

IceCure Medical (NASDAQ:ICCM) last announced its earnings results on Tuesday, June 30th. The company reported ($1.60) earnings per share for the quarter. IceCure Medical had a negative return on equity of 174.26% and a negative net margin of 427.67%. The company had revenue of $0.91 million for the quarter. On average, analysts expect that IceCure Medical will post -4.61 EPS for the current year.

IceCure Medical Company Profile

IceCure Medical Ltd. (NASDAQ: ICCM) is an Israel-based medical technology company that develops minimally invasive cryoablation systems for the treatment of tumors. Its technology uses liquid nitrogen to freeze and destroy targeted tissue, with the goal of providing an alternative to surgical removal in selected patients.

The company’s primary product is the ProSense system, which is designed to deliver controlled cryoablation through a probe inserted into a tumor. IceCure has focused on applications in breast, kidney, lung, and other solid tumors, including procedures performed under image guidance.