IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Update

IM Cannabis Corp. (NASDAQ:IMCC) saw a significant drop in short interest in May. As of May 15th, there was short interest totaling 27,624 shares, a drop of 37.6% from the April 30th total of 44,250 shares. Based on an average daily volume of 269,597 shares, the short-interest ratio is currently 0.1 days. Currently, 0.5% of the company’s stock are sold short.

IM Cannabis Price Performance

IMCC stock opened at $0.29 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.55 and a quick ratio of 0.47. IM Cannabis has a one year low of $0.22 and a one year high of $3.75. The stock has a market cap of $1.83 million, a PE ratio of -0.17 and a beta of 1.99. The firm has a 50 day simple moving average of $0.34 and a two-hundred day simple moving average of $0.94.

IM Cannabis (NASDAQ:IMCC) last announced 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 firm had revenue of $11.25 million for the quarter, compared to analysts’ expectations of $15.66 million.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in IM Cannabis stock. Yorkville Advisors Global LP purchased a new position in IM Cannabis Corp. (NASDAQ:IMCC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 756,029 shares of the company’s stock, valued at approximately $1,452,000. IM Cannabis makes up 0.3% of Yorkville Advisors Global LP’s portfolio, making the stock its 11th biggest holding. Yorkville Advisors Global LP owned about 14.40% of IM Cannabis as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 7.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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, Based on data from MarketBeat, the stock currently 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.