IM Cannabis (NASDAQ:IMCC) Issues Earnings Results

IM Cannabis (NASDAQ:IMCC) issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, Zacks reports. 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 for the quarter.

IM Cannabis Trading Up 17.9%

Shares of NASDAQ:IMCC traded up $0.60 during trading on Thursday, hitting $3.94. 201,645 shares of the company’s stock were exchanged, compared to its average volume of 86,915. The firm has a market cap of $24.51 million, a P/E ratio of -1.95 and a beta of 2.07. The firm has a 50-day moving average price of $0.14 and a two-hundred day moving average price of $0.37. IM Cannabis has a 1-year low of $2.57 and a 1-year high of $78.36.

Institutional Trading of IM Cannabis

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

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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, the stock currently has an average rating of “Sell”.

IM Cannabis Company Profile

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.