IM Cannabis (NASDAQ:IMCC) Issues Earnings Results

IM Cannabis (NASDAQ:IMCC) released its quarterly earnings data on Thursday. The company reported ($0.54) earnings per share (EPS) for the quarter, Zacks reports. IM Cannabis had a negative return on equity of 59.80% and a negative net margin of 4.19%.

IM Cannabis Stock Down 7.6%

NASDAQ IMCC traded down $0.11 during trading hours on Thursday, hitting $1.33. The company had a trading volume of 95,615 shares, compared to its average volume of 215,960. The firm’s 50 day moving average is $1.78 and its 200 day moving average is $2.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.72 and a quick ratio of 0.62. IM Cannabis has a fifty-two week low of $1.20 and a fifty-two week high of $7.12. The company has a market capitalization of $6.98 million, a price-to-earnings ratio of -2.46 and a beta of 2.10.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IMCC. Wall Street Zen lowered IM Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

IM Cannabis Company Profile

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.