Q3 2024 EPS Estimates for IM Cannabis Corp. (NASDAQ:IMCC) Lifted by Analyst

IM Cannabis Corp. (NASDAQ:IMCC) – Analysts at Alliance Global Partners raised their Q3 2024 EPS estimates for IM Cannabis in a note issued to investors on Thursday, August 15th. Alliance Global Partners analyst A. Grey now anticipates that the company will post earnings of ($0.70) per share for the quarter, up from their previous estimate of ($0.72). The consensus estimate for IM Cannabis’ current full-year earnings is ($4.32) per share. Alliance Global Partners also issued estimates for IM Cannabis’ Q1 2025 earnings at ($0.57) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.44) EPS, Q4 2025 earnings at ($0.35) EPS and FY2025 earnings at ($1.83) EPS.

IM Cannabis Trading Down 6.1 %

NASDAQ:IMCC opened at $2.77 on Monday. IM Cannabis has a 12 month low of $1.13 and a 12 month high of $8.10. The firm has a fifty day simple moving average of $2.70 and a 200-day simple moving average of $3.00. The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $6.19 million, a P/E ratio of -0.58 and a beta of 0.47.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IM Cannabis stock. AdvisorShares Investments LLC boosted its holdings in shares of IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 620,762 shares of the company’s stock after purchasing an additional 174,086 shares during the period. AdvisorShares Investments LLC owned about 27.80% of IM Cannabis worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 7.68% of the stock is owned by hedge funds and other institutional investors.

About IM Cannabis

IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel and Germany. It offers cannabis flowers and strain-specific cannabis extracts under the IMC brand; and dried flower, pre-rolls, minis, and full spectrum extracts offerings under the WAGNERS and BLKMKT brands.