IM Cannabis Corp. (NASDAQ:IMCC) Shares Shorted: Short Interest Up 262.1% in September

IM Cannabis Corp. (NASDAQ:IMCC) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 45,409 shares, a growth of 262.1% from the August 31st total of 12,539 shares. Currently, 23.3% of the shares of the stock are sold short. Based on an average daily volume of 76,668 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IM Cannabis in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

IM Cannabis Price Performance

NASDAQ IMCC opened at $2.84 on Monday. The company has a 50-day simple moving average of $3.16 and a two-hundred day simple moving average of $7.34. IM Cannabis has a 12-month low of $1.55 and a 12-month high of $77.10. The firm has a market cap of $596,400.00, a price-to-earnings ratio of -0.05 and a beta of 2.10.

IM Cannabis (NASDAQ:IMCC) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) EPS for the quarter. IM Cannabis had a negative return on equity of 585.96% and a negative net margin of 39.62%.The company had revenue of $5.34 million during the quarter.

IM Cannabis Company Profile

IM Cannabis Corp. is a medical cannabis company that operates primarily in Israel and Germany. The company develops, imports, distributes and sells medical cannabis products through the IMC brand and related product lines.

Its product portfolio includes medical cannabis flower, oils and other cannabis-based products. In Israel, IM Cannabis serves the regulated medical cannabis market through activities that include product sourcing, distribution and sales to authorized patients and pharmacies.