Short Interest in IceCure Medical Ltd. (NASDAQ:ICCM) Declines By 44.2%

IceCure Medical Ltd. (NASDAQ:ICCM) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 718,392 shares, a decline of 44.2% from the May 14th total of 1,286,399 shares. Based on an average daily volume of 759,175 shares, the short-interest ratio is presently 0.9 days. Approximately 26.2% of the shares of the stock are short sold.

IceCure Medical Stock Performance

Shares of IceCure Medical stock traded down $0.29 during midday trading on Friday, hitting $2.39. The company had a trading volume of 89,225 shares, compared to its average volume of 86,965. The stock has a market capitalization of $6.72 million, a P/E ratio of -0.33 and a beta of 0.40. The company has a 50 day moving average of $7.53 and a 200 day moving average of $14.86. IceCure Medical has a 52-week low of $2.38 and a 52-week high of $42.00.

IceCure Medical (NASDAQ:ICCM) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $0.91 million during the quarter, compared to analysts’ expectations of $1.34 million. IceCure Medical had a negative return on equity of 211.73% and a negative net margin of 441.60%. Equities research analysts forecast that IceCure Medical will post -4.5 EPS for the current year.

Institutional Trading of IceCure Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of IceCure Medical in the 4th quarter worth approximately $39,000. Concurrent Investment Advisors LLC purchased a new stake in shares of IceCure Medical in the 4th quarter worth approximately $48,000. Finally, Jane Street Group LLC purchased a new stake in shares of IceCure Medical in the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Alliance Global Partners assumed coverage on IceCure Medical in a research note on Monday, May 4th. They set a “buy” rating for the company. Maxim Group reduced their target price on IceCure Medical from $90.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of IceCure Medical in a report on Tuesday, April 21st. Three equities 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 company’s stock. Based on data from MarketBeat, IceCure Medical currently has a consensus rating of “Hold” and a consensus target price of $62.70.

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.