IM Cannabis Corp. (NASDAQ:IMCC) Sees Significant Decrease in Short Interest

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 27,624 shares, a decline of 37.6% from the April 30th total of 44,250 shares. Based on an average daily volume of 269,597 shares, the short-interest ratio is presently 0.1 days. Approximately 0.5% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IM Cannabis in a research note on Friday, April 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, IM Cannabis currently has a consensus rating of “Sell”.

IM Cannabis Trading Up 1.8%

Shares of IMCC stock opened at $0.29 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $0.32 and a two-hundred day moving average price of $0.92. IM Cannabis has a 12-month low of $0.22 and a 12-month high of $3.75. The firm has a market cap of $1.83 million, a P/E ratio of -0.17 and a beta of 1.99.

IM Cannabis (NASDAQ:IMCC) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.95). IM Cannabis had a negative return on equity of 585.96% and a negative net margin of 27.65%.The firm had revenue of $11.25 million for the quarter, compared to the consensus estimate of $15.66 million.

Institutional Investors Weigh In On 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) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned about 0.39% of IM Cannabis at the end of the most recent quarter. 7.68% of the stock is currently owned by institutional investors.

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.