IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Up 160.5% in June

IM Cannabis Corp. (NASDAQ:IMCCGet Free Report) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 373,494 shares, an increase of 160.5% from the June 15th total of 143,367 shares. Based on an average daily volume of 12,402,628 shares, the short-interest ratio is currently 0.0 days. Currently, 6.4% of the shares of the company are short sold.

IM Cannabis Price Performance

Shares of IMCC stock opened at $0.15 on Tuesday. The company has a market cap of $917,450.00, a price-to-earnings ratio of -0.08 and a beta of 2.04. IM Cannabis has a 1 year low of $0.12 and a 1 year high of $3.61. The firm has a fifty day moving average price of $0.22 and a 200-day moving average price of $0.66.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a report on Friday, April 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

View Our Latest Stock Analysis on IMCC

Institutional Trading of IM Cannabis

A hedge fund recently bought a new position in IM Cannabis stock. Yorkville Advisors Global LP acquired a new position in IM Cannabis Corp. (NASDAQ:IMCCFree Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 756,029 shares of the company’s stock, valued at approximately $1,452,000. IM Cannabis accounts for approximately 0.3% of Yorkville Advisors Global LP’s holdings, making the stock its 11th biggest holding. Yorkville Advisors Global LP owned about 14.40% of IM Cannabis as of its most recent filing with the Securities & Exchange Commission. 7.68% of the stock is owned by hedge funds and other institutional investors.

IM Cannabis Company Profile

(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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