IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Update

IM Cannabis Corp. (NASDAQ:IMCC) saw a large drop in short interest in May. As of May 15th, there was short interest totaling 27,624 shares, a drop of 37.6% from the April 30th total of 44,250 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average trading volume of 269,597 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of IM Cannabis in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

IM Cannabis Price Performance

NASDAQ:IMCC opened at $0.29 on Wednesday. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 0.25. The business’s 50-day simple moving average is $0.34 and its two-hundred day simple moving average is $0.94. The stock has a market cap of $1.83 million, a PE ratio of -0.17 and a beta of 1.99. IM Cannabis has a 52 week low of $0.22 and a 52 week high of $3.75.

IM Cannabis (NASDAQ:IMCC) last released its earnings results on Monday, March 30th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.95). IM Cannabis had a negative return on equity of 585.96% and a negative net margin of 27.65%.The company had revenue of $11.25 million during the quarter, compared to analysts’ expectations of $15.66 million.

Hedge Funds Weigh In On IM Cannabis

A hedge fund recently bought a new stake in IM Cannabis stock. DRW Securities LLC bought a new position in IM Cannabis Corp. (NASDAQ:IMCC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned approximately 0.39% of IM Cannabis as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 7.68% of the company’s stock.

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.