Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Decreases By 42.7%

IM Cannabis Corp. (NASDAQ:IMCC) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 214,028 shares, a decrease of 42.7% from the June 30th total of 373,494 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average trading volume of 381,600 shares, the short-interest 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 report on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On IM Cannabis

A hedge fund recently bought a new stake in IM Cannabis stock. DRW Securities LLC acquired a new position in IM Cannabis Corp. (NASDAQ:IMCC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned about 0.39% of IM Cannabis at the end of the most recent quarter. Hedge funds and other institutional investors own 7.68% of the company’s stock.

IM Cannabis Trading Up 0.3%

IMCC traded up $0.00 during trading on Friday, hitting $0.12. The stock had a trading volume of 3,437,140 shares, compared to its average volume of 2,492,780. The firm has a market cap of $720,276.00, a PE ratio of -0.07 and a beta of 2.04. IM Cannabis has a 12 month low of $0.10 and a 12 month high of $3.13. The company has a 50 day simple moving average of $0.19 and a 200-day simple moving average of $0.54.

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.