IceCure Medical Ltd. (NASDAQ:ICCM) Sees Significant Increase in Short Interest

IceCure Medical Ltd. (NASDAQ:ICCM) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 325,222 shares, an increase of 263.7% from the June 15th total of 89,416 shares. Based on an average daily trading volume, of 19,668,919 shares, the days-to-cover ratio is currently 0.0 days. Currently, 9.7% of the company’s shares are short sold.

Analyst Ratings Changes

A number of equities analysts have issued reports on ICCM shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IceCure Medical in a research note on Tuesday, April 21st. Alliance Global Partners initiated coverage on IceCure Medical in a research report on Monday, May 4th. They issued a “buy” rating on the stock. Maxim Group dropped their price objective on IceCure Medical from $90.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Finally, Wall Street Zen raised IceCure Medical to a “sell” rating in a research note on Sunday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $62.70.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of IceCure Medical during the fourth quarter worth $39,000. Concurrent Investment Advisors LLC acquired a new position in IceCure Medical in the 4th quarter worth $48,000. Finally, Jane Street Group LLC bought a new position in IceCure Medical during the 4th quarter worth about $67,000. Institutional investors own 0.62% of the company’s stock.

IceCure Medical Trading Down 3.0%

Shares of ICCM stock traded down $0.11 on Monday, hitting $3.54. The stock had a trading volume of 98,576 shares, compared to its average volume of 10,147,848. IceCure Medical has a twelve month low of $2.12 and a twelve month high of $42.00. The company has a fifty day moving average price of $5.60 and a two-hundred day moving average price of $12.53. The firm has a market cap of $12.14 million, a P/E ratio of -0.49 and a beta of 0.43.

IceCure Medical (NASDAQ:ICCM) last posted its earnings results on Tuesday, May 12th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). IceCure Medical had a negative return on equity of 211.73% and a negative net margin of 441.60%.The business had revenue of $0.91 million for the quarter, compared to the consensus estimate of $1.34 million. On average, analysts expect that IceCure Medical will post -3.51 earnings per share 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.