IceCure Medical Ltd. (NASDAQ:ICCM) Short Interest Down 66.3% in July

IceCure Medical Ltd. (NASDAQ:ICCM) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 37,525 shares, a decline of 66.3% from the July 15th total of 111,279 shares. Based on an average daily volume of 74,572 shares, the short-interest ratio is currently 0.5 days. Currently, 1.1% of the shares of the company are short sold.

Hedge Funds Weigh In On IceCure Medical

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of IceCure Medical during the 4th quarter worth approximately $39,000. Concurrent Investment Advisors LLC acquired a new position in IceCure Medical during the fourth quarter valued at approximately $48,000. Finally, Jane Street Group LLC bought a new stake in IceCure Medical during the fourth quarter worth $67,000. 0.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Maxim Group cut their target price on shares of IceCure Medical from $90.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Alliance Global Partners assumed coverage on shares of IceCure Medical in a report on Monday, May 4th. They issued a “buy” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of IceCure Medical in a report on Friday, July 17th. Finally, Wall Street Zen raised IceCure Medical to a “sell” rating in a research report on Sunday, July 12th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $52.50.

IceCure Medical Price Performance

NASDAQ:ICCM traded up $0.02 during trading hours on Friday, reaching $3.02. 49,231 shares of the company were exchanged, compared to its average volume of 1,344,160. The business has a 50 day moving average of $3.95 and a 200 day moving average of $9.83. IceCure Medical has a 1-year low of $2.12 and a 1-year high of $42.00. The company has a market capitalization of $10.36 million, a P/E ratio of -0.35 and a beta of 0.47.

IceCure Medical (NASDAQ:ICCM) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($1.64) earnings per share for the quarter. The company had revenue of $0.91 million during the quarter. IceCure Medical had a negative net margin of 427.67% and a negative return on equity of 188.60%. As a group, equities research analysts anticipate that IceCure Medical will post -3.51 earnings per share for the current fiscal year.

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.