IceCure Medical Ltd. (NASDAQ:ICCM) Sees Large Decrease in Short Interest

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in IceCure Medical in the 4th quarter valued at $39,000. Concurrent Investment Advisors LLC purchased a new position in IceCure Medical during the fourth quarter worth approximately $48,000. Finally, Jane Street Group LLC purchased a new position in IceCure Medical during the fourth quarter worth approximately $67,000. Hedge funds and other institutional investors own 0.62% of the company’s stock.

IceCure Medical Trading Down 8.8%

ICCM stock traded down $0.21 during midday trading on Monday, reaching $2.18. The stock had a trading volume of 129,816 shares, compared to its average volume of 30,985. The company’s fifty day simple moving average is $7.40 and its 200 day simple moving average is $14.68. The company has a market cap of $6.12 million, a price-to-earnings ratio of -0.30 and a beta of 0.40. IceCure Medical has a 52-week low of $2.17 and a 52-week high of $42.00.

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

IceCure Medical Company Profile

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.