Short Interest in IceCure Medical Ltd. (NASDAQ:ICCM) Decreases By 44.2%

IceCure Medical Ltd. (NASDAQ:ICCM) was the target of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 718,392 shares, a decline of 44.2% from the May 14th total of 1,286,399 shares. Based on an average trading volume of 759,175 shares, the days-to-cover ratio is presently 0.9 days. Currently, 26.2% of the shares of the stock are short sold.

IceCure Medical Stock Down 2.3%

ICCM traded down $0.05 during trading hours on Tuesday, reaching $2.13. 96,437 shares of the company’s stock traded hands, compared to its average volume of 31,570. IceCure Medical has a 52-week low of $2.12 and a 52-week high of $42.00. The firm has a market capitalization of $5.99 million, a PE ratio of -0.30 and a beta of 0.40. The firm has a 50-day moving average price of $7.40 and a 200 day moving average price of $14.68.

IceCure Medical (NASDAQ:ICCM) last issued its earnings results on Tuesday, May 12th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). IceCure Medical had a negative return on equity of 211.73% and a negative net margin of 441.60%.The firm had revenue of $0.91 million during the quarter, compared to analysts’ expectations of $1.34 million. Equities analysts predict that IceCure Medical will post -4.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in IceCure Medical during the 4th quarter valued at about $39,000. Concurrent Investment Advisors LLC acquired a new position in IceCure Medical during the 4th quarter valued at about $48,000. Finally, Jane Street Group LLC acquired a new position in shares of IceCure Medical in the fourth quarter valued at about $67,000. 0.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Maxim Group reduced their price objective on IceCure Medical from $90.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Alliance Global Partners assumed coverage on IceCure Medical in a research note on Monday, May 4th. They issued a “buy” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IceCure Medical in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.70.

About IceCure Medical

IceCure Medical Ltd. (NASDAQ: ICCM) is a clinical-stage medical device company specializing in the development and commercialization of proprietary cryoablation systems for the treatment of tumors and other pathological tissues. The company’s core technology employs a unique liquid-nitrogen-based platform to deliver rapid cooling through fine-gauge cryoprobes, enabling precise and minimally invasive tissue ablation under imaging guidance. IceCure’s lead product, ProSense, is designed to offer a single-probe approach that can be deployed in an outpatient setting, reducing procedure time and patient recovery periods.

Originally founded in Israel, IceCure Medical obtained its first CE mark for the treatment of benign breast tumors and fibroadenomas in 2017.