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

IM Cannabis Corp. (NASDAQ:IMCC) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 7,300 shares, a growth of 49.0% from the March 15th total of 4,900 shares. Based on an average daily trading volume, of 12,300 shares, the short-interest ratio is presently 0.6 days. Approximately 0.4% of the company’s stock are short sold.

IM Cannabis Stock Performance

Shares of NASDAQ:IMCC opened at $1.50 on Friday. The company has a market cap of $3.34 million, a P/E ratio of -0.44 and a beta of 1.13. IM Cannabis has a one year low of $1.30 and a one year high of $7.86. The business’s 50-day simple moving average is $1.80 and its 200 day simple moving average is $2.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.59 and a current ratio of 0.70.

IM Cannabis (NASDAQ:IMCC) last announced its earnings results on Monday, March 31st. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.16. IM Cannabis had a negative net margin of 25.55% and a negative return on equity of 129.86%. The business had revenue of $9.27 million during the quarter, compared to the consensus estimate of $14.48 million.

About IM Cannabis

IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel and Germany. It offers cannabis flowers and strain-specific cannabis extracts under the IMC brand; and dried flower, pre-rolls, minis, and full spectrum extracts offerings under the WAGNERS and BLKMKT brands.