Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Increases By 279.2%

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totaling 258,951 shares, an increase of 279.2% from the November 30th total of 68,294 shares. Based on an average daily trading volume, of 310,428 shares, the days-to-cover ratio is presently 0.8 days. Approximately 4.9% of the company’s shares are short sold. Approximately 4.9% of the company’s shares are short sold. Based on an average daily trading volume, of 310,428 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Investors Weigh In On IM Cannabis

A number of large investors have recently modified their holdings of the company. Hidden Cove Wealth Management LLC acquired a new stake in shares of IM Cannabis during the third quarter worth about $27,000. Heron Bay Capital Management purchased a new stake in IM Cannabis in the 2nd quarter valued at approximately $195,000. Finally, Yorkville Advisors Global LP acquired a new position in IM Cannabis during the third quarter worth $1,452,000. 7.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of IM Cannabis in a report on Monday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

IM Cannabis Trading Up 0.3%

NASDAQ IMCC traded up $0.01 on Thursday, reaching $1.48. The stock had a trading volume of 49,810 shares, compared to its average volume of 317,867. The company has a quick ratio of 0.56, a current ratio of 0.82 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $1.56 and a two-hundred day moving average price of $2.15. IM Cannabis has a 12-month low of $0.93 and a 12-month high of $7.12. The firm has a market capitalization of $7.74 million, a price-to-earnings ratio of -1.89 and a beta of 2.08.

IM Cannabis (NASDAQ:IMCC) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.52). The business had revenue of $9.89 million during the quarter, compared to analysts’ expectations of $14.27 million. IM Cannabis had a negative net margin of 9.47% and a negative return on equity of 134.35%.

About IM Cannabis

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.