IceCure Medical Ltd. (NASDAQ:ICCM) Sees Large Increase in Short Interest

IceCure Medical Ltd. (NASDAQ:ICCM) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 107,730 shares, an increase of 164.2% from the August 15th total of 40,780 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average daily volume of 218,702 shares, the days-to-cover ratio is presently 0.5 days.

Analysts Set New Price Targets

ICCM has been the subject of several research analyst reports. Wall Street Zen raised IceCure Medical from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IceCure Medical in a research report on Friday, July 17th. Finally, Zacks Research lowered IceCure Medical from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $52.50.

IceCure Medical Stock Performance

Shares of ICCM opened at $2.21 on Friday. The company has a 50-day simple moving average of $2.93 and a 200-day simple moving average of $7.61. IceCure Medical has a 52 week low of $2.06 and a 52 week high of $42.00. The firm has a market capitalization of $7.58 million, a P/E ratio of -0.26 and a beta of 0.45.

IceCure Medical (NASDAQ:ICCM) last released its earnings results on Tuesday, June 30th. The company reported ($1.60) earnings per share for the quarter. The firm had revenue of $0.91 million for the quarter. IceCure Medical had a negative return on equity of 174.26% and a negative net margin of 427.67%. As a group, equities analysts forecast that IceCure Medical will post -4.61 earnings per share for the current year.

Institutional Investors Weigh In On IceCure Medical

A hedge fund recently bought a new position in IceCure Medical stock. Jane Street Group LLC bought a new stake in IceCure Medical Ltd. (NASDAQ:ICCM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 109,638 shares of the company’s stock, valued at approximately $67,000. Jane Street Group LLC owned 0.16% of IceCure Medical as of its most recent SEC filing. Institutional investors and hedge funds own 0.62% of the company’s stock.

IceCure Medical Company Profile

IceCure Medical Ltd. (NASDAQ: ICCM) is a clinical-stage medical device company specializing in the development and commercialization of proprietary cryoablation systems for the treatment of tumors and other pathological tissues. The company’s core technology employs a unique liquid-nitrogen-based platform to deliver rapid cooling through fine-gauge cryoprobes, enabling precise and minimally invasive tissue ablation under imaging guidance. IceCure’s lead product, ProSense, is designed to offer a single-probe approach that can be deployed in an outpatient setting, reducing procedure time and patient recovery periods.

Originally founded in Israel, IceCure Medical obtained its first CE mark for the treatment of benign breast tumors and fibroadenomas in 2017.