IM Cannabis Stock Set to Reverse Split on Thursday, August 27th (NASDAQ:IMCC)

IM Cannabis Corp. (NASDAQ:IMCC) shares are set to reverse split on the morning of Thursday, August 27th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, August 26th.

IM Cannabis Stock Up 1.0%

NASDAQ IMCC traded up $0.00 on Wednesday, hitting $0.11. 1,632,511 shares of the company were exchanged, compared to its average volume of 6,516,137. IM Cannabis has a 1-year low of $0.09 and a 1-year high of $2.61. The firm has a 50 day moving average of $0.15 and a two-hundred day moving average of $0.42.

IM Cannabis (NASDAQ:IMCC) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) EPS for the quarter. The company had revenue of $5.34 million for the quarter. IM Cannabis had a negative return on equity of 585.96% and a negative net margin of 39.62%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of IM Cannabis in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, IM Cannabis currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On IM Cannabis

A hedge fund recently bought a new position in IM Cannabis stock. DRW Securities LLC bought a new position in shares of IM Cannabis Corp. (NASDAQ:IMCC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned 0.39% of IM Cannabis as of its most recent filing with the Securities and Exchange Commission. 7.68% of the stock is currently owned by institutional investors.

About IM Cannabis

IM Cannabis Corp is a vertically integrated medical cannabis company based in Israel, specializing in the research, cultivation and production of cannabis-based formulations. The company holds three key licenses granted by the Israeli Ministry of Health, covering cultivation, possession and distribution of medical-grade cannabis. Its production facilities in Moshav Yizrael feature controlled-environment agriculture chambers designed to deliver consistent, high-purity cannabinoid profiles.

The company’s product portfolio includes standardized cannabis oils, distillates, vaporizer cartridges and topical preparations, all formulated under Good Manufacturing Practice (GMP) standards.