Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Rises By 271.8%

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 102,717 shares, a growth of 271.8% from the May 14th total of 27,624 shares. Based on an average daily volume of 1,102,910 shares, the short-interest ratio is currently 0.1 days. Approximately 1.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in IM Cannabis stock. Yorkville Advisors Global LP purchased a new position in shares of IM Cannabis Corp. (NASDAQ:IMCC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 756,029 shares of the company’s stock, valued at approximately $1,452,000. IM Cannabis accounts for 0.3% of Yorkville Advisors Global LP’s investment portfolio, making the stock its 11th largest holding. Yorkville Advisors Global LP owned 14.40% of IM Cannabis as of its most recent filing with the Securities and Exchange Commission (SEC). 7.68% of the stock is owned by institutional investors.

IM Cannabis Stock Up 7.1%

NASDAQ IMCC traded up $0.02 on Thursday, reaching $0.25. The company had a trading volume of 112,128 shares, compared to its average volume of 721,703. The firm has a market capitalization of $1.54 million, a price-to-earnings ratio of -0.14 and a beta of 1.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.47 and a current ratio of 0.55. IM Cannabis has a 1-year low of $0.21 and a 1-year high of $3.75. The company’s fifty day moving average is $0.29 and its 200-day moving average is $0.89.

IM Cannabis (NASDAQ:IMCC) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.95). The business had revenue of $11.25 million for the quarter, compared to the consensus estimate of $15.66 million. IM Cannabis had a negative return on equity of 585.96% and a negative net margin of 27.65%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a report on Friday, April 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, IM Cannabis currently has an average rating of “Sell”.

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.