IceCure Medical Ltd. (NASDAQ:ICCM) Stock Short Interest Drops 49.2%

IceCure Medical Ltd. (NASDAQ:ICCM – Get Free Report) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 52,159 shares, a decline of 49.2% from the September 15th total of 102,639 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 123,547 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

ICCM has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IceCure Medical in a research report on Friday, July 17th. Wall Street Zen downgraded shares of IceCure Medical from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Finally, Zacks Research upgraded shares of IceCure Medical from a “strong sell” rating to a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.00.

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IceCure Medical Price Performance

Shares of ICCM traded down $0.09 during mid-day trading on Wednesday, hitting $1.01. The stock had a trading volume of 102,720 shares, compared to its average volume of 1,094,949. IceCure Medical has a 52 week low of $1.01 and a 52 week high of $26.97. The business has a fifty day moving average price of $2.15 and a 200-day moving average price of $4.86. The firm has a market cap of $3.46 million, a P/E ratio of -0.12 and a beta of 0.43.

IceCure Medical (NASDAQ:ICCM – Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($1.60) earnings per share for the quarter. IceCure Medical had a negative return on equity of 174.26% and a negative net margin of 427.67%. The firm had revenue of $0.91 million for the quarter. As a group, research analysts expect that IceCure Medical will post -4.61 earnings per share for the current fiscal year.

About IceCure Medical

(Get Free Report)

IceCure Medical Ltd. (NASDAQ: ICCM) is an Israel-based medical technology company that develops minimally invasive cryoablation systems for the treatment of tumors. Its technology uses liquid nitrogen to freeze and destroy targeted tissue, with the goal of providing an alternative to surgical removal in selected patients.

The company’s primary product is the ProSense system, which is designed to deliver controlled cryoablation through a probe inserted into a tumor. IceCure has focused on applications in breast, kidney, lung, and other solid tumors, including procedures performed under image guidance.

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