IM Cannabis Corp. (NASDAQ:IMCC) Shares Shorted: Short Interest Down 51.6% in October

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 36,121 shares, a decline of 51.6% from the September 30th total of 74,661 shares. Currently, 3.6% of the company’s shares are sold short. Based on an average daily volume of 121,192 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IMCC. Wall Street Zen lowered shares of IM Cannabis to a “strong sell” rating in a report on Saturday, October 10th. Weiss Ratings restated a “sell (e+)” rating on shares of IM Cannabis in a research note on Monday, October 19th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

IM Cannabis Stock Performance

IM Cannabis stock traded down $0.12 during midday trading on Friday, hitting $0.79. 27,376 shares of the company’s stock were exchanged, compared to its average volume of 893,028. The company has a market cap of $784,672.00, a PE ratio of -0.01 and a beta of 2.21. The firm has a 50-day moving average of $2.17 and a two-hundred day moving average of $11.71. IM Cannabis has a 12 month low of $0.76 and a 12 month high of $62.40.

IM Cannabis (NASDAQ:IMCC) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) EPS for the quarter. The firm had revenue of $5.34 million for the quarter.

IM Cannabis Company Profile

IM Cannabis Corp. (NASDAQ: IMCC) is a medical cannabis company focused primarily on the Israeli and German markets. The company develops, sources, imports, distributes and markets medical cannabis products under the IMC brand, serving patients through pharmacies, clinics and other authorized channels.

In Israel, IM Cannabis is involved in the supply of medical cannabis products, including flower and other cannabis-based offerings, through affiliated cultivation, processing and distribution operations.