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

IM Cannabis Corp. (NASDAQ:IMCC – Get Free Report) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 12,539 shares, a decrease of 96.7% from the August 15th total of 376,724 shares. Approximately 6.4% of the shares of the company are sold short. Based on an average daily volume of 180,495 shares, the days-to-cover ratio is presently 0.1 days.

IM Cannabis Price Performance

IM Cannabis stock traded down $0.24 during mid-day trading on Thursday, hitting $1.75. 47,244 shares of the company’s stock traded hands, compared to its average volume of 129,234. The firm has a 50 day simple moving average of $3.57 and a two-hundred day simple moving average of $8.86. IM Cannabis has a fifty-two week low of $1.73 and a fifty-two week high of $77.10. The stock has a market cap of $367,500.00, a price-to-earnings ratio of -0.03 and a beta of 2.10.

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IM Cannabis (NASDAQ:IMCC – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) EPS for the quarter. The company had revenue of $5.34 million for the quarter. IM Cannabis had a negative return on equity of 585.96% and a negative net margin of 39.62%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in IM Cannabis stock. DRW Securities LLC acquired a new position in shares of IM Cannabis Corp. (NASDAQ:IMCC – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned about 0.39% of IM Cannabis as of its most recent SEC filing. 7.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

View Our Latest Stock Analysis on IM Cannabis

About IM Cannabis

(Get Free Report)

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.

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