IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Up 121.6% in July

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 474,364 shares, a growth of 121.6% from the July 15th total of 214,028 shares. Currently, 7.6% of the shares of the company are sold short. Based on an average daily volume of 6,421,090 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of IM Cannabis

A hedge fund recently bought a new stake in IM Cannabis stock. DRW Securities LLC bought a new stake in IM Cannabis Corp. (NASDAQ:IMCC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned about 0.39% of IM Cannabis as of its most recent SEC filing. Institutional investors own 7.68% of the company’s stock.

IM Cannabis Trading Down 6.1%

IM Cannabis stock traded down $0.01 on Friday, reaching $0.12. 558,930 shares of the stock were exchanged, compared to its average volume of 4,346,914. IM Cannabis has a twelve month low of $0.10 and a twelve month high of $2.83. The firm has a fifty day moving average price of $0.16 and a two-hundred day moving average price of $0.45. The stock has a market cap of $759,462.00, a PE ratio of -0.06 and a beta of 2.07.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

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.