Short Interest in IceCure Medical Ltd. (NASDAQ:ICCM) Drops By 65.8%

IceCure Medical Ltd. (NASDAQ:ICCM) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 111,279 shares, a decrease of 65.8% from the June 30th total of 325,222 shares. Based on an average daily trading volume, of 298,100 shares, the short-interest ratio is presently 0.4 days. Currently, 3.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICCM. Virtu Financial LLC purchased a new stake in shares of IceCure Medical during the fourth quarter worth $39,000. Concurrent Investment Advisors LLC purchased a new position in shares of IceCure Medical in the fourth quarter worth about $48,000. Finally, Jane Street Group LLC acquired a new position in IceCure Medical during the fourth quarter worth about $67,000. Hedge funds and other institutional investors own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ICCM shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of IceCure Medical in a research report on Friday, July 17th. Alliance Global Partners assumed coverage on IceCure Medical in a report on Monday, May 4th. They issued a “buy” rating for the company. Wall Street Zen raised IceCure Medical to a “sell” rating in a report on Sunday, July 12th. Finally, Maxim Group reduced their target price on IceCure Medical from $90.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, IceCure Medical has a consensus rating of “Hold” and a consensus target price of $62.70.

IceCure Medical Price Performance

IceCure Medical stock traded down $0.07 during midday trading on Monday, reaching $3.02. The company had a trading volume of 13,858 shares, compared to its average volume of 1,469,697. IceCure Medical has a 12-month low of $2.12 and a 12-month high of $42.00. The company has a market capitalization of $10.34 million, a P/E ratio of -0.42 and a beta of 0.43. The firm’s fifty day simple moving average is $4.88 and its 200-day simple moving average is $11.52.

IceCure Medical (NASDAQ:ICCM) last announced its earnings results on Tuesday, May 12th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The firm had revenue of $0.91 million for the quarter, compared to analyst estimates of $1.34 million. IceCure Medical had a negative net margin of 441.60% and a negative return on equity of 211.73%. On average, analysts expect that IceCure Medical will post -3.51 EPS for the current fiscal year.

About IceCure Medical

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.