IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Down 49.4% in January

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 30,993 shares, a decline of 49.4% from the January 15th total of 61,260 shares. Based on an average daily trading volume, of 60,721 shares, the short-interest ratio is currently 0.5 days. Approximately 0.5% of the company’s shares are sold short. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 60,721 shares, the short-interest ratio is currently 0.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IM Cannabis in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Hedge Funds Weigh In On IM Cannabis

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hidden Cove Wealth Management LLC bought a new stake in shares of IM Cannabis in the third quarter valued at approximately $27,000. DRW Securities LLC purchased a new stake in IM Cannabis during the 4th quarter worth about $32,000. Heron Bay Capital Management bought a new position in IM Cannabis in the 2nd quarter worth about $195,000. Finally, Yorkville Advisors Global LP purchased a new position in IM Cannabis during the 3rd quarter valued at about $1,452,000. 7.68% of the stock is owned by institutional investors.

IM Cannabis Stock Down 4.4%

NASDAQ:IMCC traded down $0.05 during trading hours on Friday, hitting $1.09. 7,624 shares of the company traded hands, compared to its average volume of 57,880. The company has a quick ratio of 0.56, a current ratio of 0.82 and a debt-to-equity ratio of 0.25. The company has a market cap of $6.42 million, a PE ratio of -1.40 and a beta of 2.10. The firm’s 50-day simple moving average is $1.41 and its 200-day simple moving average is $1.75. IM Cannabis has a one year low of $0.90 and a one year high of $7.12.

IM Cannabis (NASDAQ:IMCC) last posted its earnings results on Thursday, November 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.52). The firm had revenue of $9.89 million for the quarter, compared to the consensus estimate of $14.27 million. IM Cannabis had a negative return on equity of 134.35% and a negative net margin of 9.47%.

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.