IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Down 49.4% in January

IM Cannabis Corp. (NASDAQ:IMCC) saw a significant decline in short interest in January. As of January 30th, there was short interest totaling 30,993 shares, a decline of 49.4% from the January 15th total of 61,260 shares. Based on an average daily trading volume, of 60,721 shares, the short-interest ratio is currently 0.5 days. Currently, 0.5% of the shares of the stock are short sold. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 60,721 shares, the short-interest ratio is currently 0.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of IM Cannabis in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, IM Cannabis has a consensus rating of “Sell”.

IM Cannabis Price Performance

Shares of IM Cannabis stock traded down $0.05 on Friday, reaching $1.09. 7,624 shares of the stock were exchanged, compared to its average volume of 65,241. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.82. The firm has a market cap of $6.43 million, a PE ratio of -1.40 and a beta of 2.10. The firm’s 50 day moving average is $1.42 and its 200-day moving average is $1.76. IM Cannabis has a one year low of $0.90 and a one year high of $7.12.

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

Institutional Trading of IM Cannabis

Several institutional investors and hedge funds have recently modified their holdings of IMCC. Hidden Cove Wealth Management LLC bought a new position in shares of IM Cannabis in the third quarter worth about $27,000. DRW Securities LLC acquired a new position in IM Cannabis during the 4th quarter worth approximately $32,000. Heron Bay Capital Management acquired a new position in IM Cannabis during the 2nd quarter worth approximately $195,000. Finally, Yorkville Advisors Global LP bought a new position in IM Cannabis in the 3rd quarter valued at approximately $1,452,000. 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.