Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Rises By 271.8%

IM Cannabis Corp. (NASDAQ:IMCC) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 102,717 shares, an increase of 271.8% from the May 14th total of 27,624 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily volume of 1,102,910 shares, the short-interest ratio is presently 0.1 days.

IM Cannabis Stock Up 7.1%

IMCC traded up $0.02 during midday trading on Thursday, hitting $0.25. The company had a trading volume of 112,128 shares, compared to its average volume of 721,703. IM Cannabis has a 52 week low of $0.21 and a 52 week high of $3.75. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.54 million, a price-to-earnings ratio of -0.14 and a beta of 1.99. The stock’s 50 day moving average price is $0.29 and its 200 day moving average price is $0.89.

IM Cannabis (NASDAQ:IMCC) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.95). IM Cannabis had a negative net margin of 27.65% and a negative return on equity of 585.96%. The company had revenue of $11.25 million during the quarter, compared to the consensus estimate of $15.66 million.

Institutional Investors Weigh In On IM Cannabis

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

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.