IceCure Medical Ltd. (NASDAQ:ICCM) Short Interest Down 66.3% in July

IceCure Medical Ltd. (NASDAQ:ICCM) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 37,525 shares, a drop of 66.3% from the July 15th total of 111,279 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 74,572 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in IceCure Medical in the fourth quarter valued at $39,000. Concurrent Investment Advisors LLC acquired a new stake in IceCure Medical during the 4th quarter worth about $48,000. Finally, Jane Street Group LLC purchased a new position in shares of IceCure Medical during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ICCM. Maxim Group dropped their price objective on shares of IceCure Medical from $90.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Alliance Global Partners started coverage on IceCure Medical in a research note on Monday, May 4th. They issued a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IceCure Medical in a research report on Friday, July 17th. Finally, Wall Street Zen raised IceCure Medical to a “sell” rating in a research report on Sunday, July 12th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, IceCure Medical presently has an average rating of “Moderate Buy” and a consensus target price of $52.50.

IceCure Medical Price Performance

NASDAQ:ICCM traded up $0.02 during midday trading on Friday, hitting $3.02. The company’s stock had a trading volume of 49,358 shares, compared to its average volume of 79,042. IceCure Medical has a fifty-two week low of $2.12 and a fifty-two week high of $42.00. The firm has a market cap of $10.36 million, a P/E ratio of -0.35 and a beta of 0.47. The firm’s 50 day moving average is $3.93 and its 200-day moving average is $9.78.

IceCure Medical (NASDAQ:ICCM) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($1.64) EPS for the quarter. The business had revenue of $0.91 million for the quarter. IceCure Medical had a negative net margin of 427.67% and a negative return on equity of 174.26%. As a group, analysts forecast that IceCure Medical will post -3.51 EPS for the current year.

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.