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

IM Cannabis Corp. (NASDAQ:IMCC) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 102,717 shares, an increase of 271.8% from the May 14th total of 27,624 shares. Based on an average daily volume of 1,102,910 shares, the short-interest ratio is presently 0.1 days. Approximately 1.7% of the company’s shares are sold short.

IM Cannabis Stock Down 6.0%

IM Cannabis stock traded down $0.01 during trading hours on Friday, hitting $0.23. 231,243 shares of the stock traded hands, compared to its average volume of 720,727. The firm’s 50-day moving average price is $0.29 and its two-hundred day moving average price is $0.88. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.45 million, a PE ratio of -0.13 and a beta of 1.99. IM Cannabis has a one year low of $0.21 and a one year high of $3.75.

IM Cannabis (NASDAQ:IMCC) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.95). The firm had revenue of $11.25 million for the quarter, compared to the consensus estimate of $15.66 million. IM Cannabis had a negative net margin of 27.65% and a negative return on equity of 585.96%.

Institutional Trading of IM Cannabis

An institutional investor recently bought a new position in IM Cannabis stock. DRW Securities LLC acquired a new stake in shares of IM Cannabis Corp. (NASDAQ:IMCC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 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 SEC. Hedge funds and other institutional investors own 7.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.