Short Interest in IceCure Medical Ltd. (NASDAQ:ICCM) Decreases By 65.8%

IceCure Medical Ltd. (NASDAQ:ICCM) was the target of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 111,279 shares, a decrease of 65.8% from the June 30th total of 325,222 shares. Currently, 3.3% of the shares of the stock are short sold. Based on an average daily volume of 298,100 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new stake in shares of IceCure Medical in the 4th quarter valued at approximately $67,000. Concurrent Investment Advisors LLC acquired a new stake in shares of IceCure Medical in the fourth quarter valued at $48,000. Finally, Virtu Financial LLC purchased a new stake in IceCure Medical during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ICCM shares. Maxim Group reduced their price objective on IceCure Medical from $90.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Alliance Global Partners assumed coverage on IceCure Medical in a research note on Monday, May 4th. They issued a “buy” rating for the company. Wall Street Zen upgraded IceCure Medical to a “sell” rating in a report on Sunday, July 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of IceCure Medical in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $62.70.

IceCure Medical Price Performance

ICCM traded down $0.07 during trading hours on Monday, reaching $3.02. The company’s stock had a trading volume of 13,858 shares, compared to its average volume of 1,469,697. IceCure Medical has a fifty-two week low of $2.12 and a fifty-two week high of $42.00. The stock has a market cap of $10.34 million, a PE ratio of -0.42 and a beta of 0.43. The business’s 50-day moving average is $4.88 and its 200-day moving average is $11.52.

IceCure Medical (NASDAQ:ICCM) last posted its earnings results on Tuesday, May 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). IceCure Medical had a negative return on equity of 211.73% and a negative net margin of 441.60%.The business had revenue of $0.91 million for the quarter, compared to analyst estimates of $1.34 million. Analysts expect that IceCure Medical will post -3.51 EPS for the current year.

About IceCure Medical

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.