IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Up 121.6% in July

IM Cannabis Corp. (NASDAQ:IMCC) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 474,364 shares, an increase of 121.6% from the July 15th total of 214,028 shares. Currently, 7.6% of the company’s stock are sold short. Based on an average daily trading volume, of 6,421,090 shares, the days-to-cover ratio is currently 0.1 days.

IM Cannabis Price Performance

Shares of IMCC stock traded down $0.01 on Friday, hitting $0.12. The company’s stock had a trading volume of 558,930 shares, compared to its average volume of 4,346,914. The stock has a market capitalization of $759,462.00, a price-to-earnings ratio of -0.06 and a beta of 2.07. IM Cannabis has a fifty-two week low of $0.10 and a fifty-two week high of $2.83. The firm’s fifty day moving average price is $0.16 and its 200-day moving average price is $0.45.

Institutional Trading of IM Cannabis

A hedge fund recently bought a new stake in IM Cannabis stock. DRW Securities LLC purchased a new position in shares of IM Cannabis Corp. (NASDAQ:IMCC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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. 7.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IM Cannabis in a research report on Tuesday, July 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, IM Cannabis currently has an average rating of “Sell”.

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.