IceCure Medical Ltd. (NASDAQ:ICCM) Shares Shorted: Short Interest Down 49.2% in September

IceCure Medical Ltd. (NASDAQ:ICCM) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 52,159 shares, a drop of 49.2% from the September 15th total of 102,639 shares. Based on an average trading volume of 123,547 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.6% of the shares of the company are sold short.

IceCure Medical Stock Up 1.9%

IceCure Medical stock traded up $0.02 during midday trading on Friday, hitting $1.06. The company’s stock had a trading volume of 103,172 shares, compared to its average volume of 1,085,200. The stock’s 50-day moving average price is $2.03 and its 200-day moving average price is $4.69. IceCure Medical has a 12 month low of $0.96 and a 12 month high of $25.79. The company has a market capitalization of $3.63 million, a PE ratio of -0.12 and a beta of 0.43.

IceCure Medical (NASDAQ:ICCM) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($1.60) earnings per share (EPS) for the quarter. The business had revenue of $0.91 million during 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 anticipate that IceCure Medical will post -4.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on ICCM shares. Zacks Research upgraded shares of IceCure Medical from a “strong sell” rating to a “hold” rating in a research report on Monday. Wall Street Zen cut shares of IceCure Medical from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of IceCure Medical in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.00.

IceCure Medical Company Profile

IceCure Medical Ltd. (NASDAQ: ICCM) is an Israel-based medical technology company that develops minimally invasive cryoablation systems for the treatment of tumors. Its technology uses liquid nitrogen to freeze and destroy targeted tissue, with the goal of providing an alternative to surgical removal in selected patients.

The company’s primary product is the ProSense system, which is designed to deliver controlled cryoablation through a probe inserted into a tumor. IceCure has focused on applications in breast, kidney, lung, and other solid tumors, including procedures performed under image guidance.