Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Grows By 160.5%

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 373,494 shares, a growth of 160.5% from the June 15th total of 143,367 shares. Approximately 6.4% of the shares of the company are short sold. Based on an average daily volume of 12,402,628 shares, the days-to-cover ratio is currently 0.0 days.

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 shares of IM Cannabis Corp. (NASDAQ:IMCC) in the fourth quarter, according to the company in its most recent filing with the 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 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 7.68% of the company’s stock.

IM Cannabis Price Performance

IMCC stock opened at $0.15 on Thursday. The company has a market capitalization of $920,560.00, a P/E ratio of -0.08 and a beta of 2.04. IM Cannabis has a 12 month low of $0.12 and a 12 month high of $3.61. The firm’s fifty day simple moving average is $0.22 and its 200-day simple moving average is $0.64.

Wall Street Analyst Weigh In

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