IM Cannabis (NASDAQ:IMCC) Posts Quarterly Earnings Results

IM Cannabis (NASDAQ:IMCC) posted its earnings results on Thursday. The company reported ($0.33) earnings per share for the quarter, FiscalAI reports. The business had revenue of $5.34 million during the quarter. IM Cannabis had a negative return on equity of 585.96% and a negative net margin of 27.65%.

IM Cannabis Price Performance

Shares of NASDAQ:IMCC remained flat at $0.13 during midday trading on Thursday. The company had a trading volume of 422,900 shares, compared to its average volume of 2,393,467. The business’s 50 day moving average price is $0.16 and its two-hundred day moving average price is $0.46. The company has a market capitalization of $808,600.00, a price-to-earnings ratio of -0.07 and a beta of 2.07. IM Cannabis has a 12 month low of $0.10 and a 12 month high of $2.83.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a research report on Tuesday, July 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On IM Cannabis

A hedge fund recently bought a new position in IM Cannabis stock. DRW Securities LLC acquired a new stake in IM Cannabis Corp. (NASDAQ:IMCC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned 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 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.