IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Down 55.6% in February

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 8,530 shares, a decrease of 55.6% from the February 12th total of 19,228 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 65,424 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 65,424 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the company are sold short.

IM Cannabis Stock Performance

NASDAQ IMCC traded up $0.08 during trading on Thursday, hitting $0.92. The company’s stock had a trading volume of 76,179 shares, compared to its average volume of 60,483. IM Cannabis has a 52 week low of $0.65 and a 52 week high of $7.12. The firm has a market cap of $5.42 million, a P/E ratio of -1.18 and a beta of 2.17. The firm has a 50 day moving average price of $1.14 and a 200 day moving average price of $1.53. The company has a quick ratio of 0.56, a current ratio of 0.82 and a debt-to-equity ratio of 0.25.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On IM Cannabis

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

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.