Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Decreases By 96.7%

IM Cannabis Corp. (NASDAQ:IMCC) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 12,539 shares, a drop of 96.7% from the August 15th total of 376,724 shares. Currently, 6.4% of the shares of the company are short sold. Based on an average daily volume of 180,495 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On IM Cannabis

A hedge fund recently bought a new position in IM Cannabis stock. DRW Securities LLC purchased a new stake in IM Cannabis Corp. (NASDAQ:IMCC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned 0.39% of IM Cannabis at the end of the most recent quarter. 7.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

IM Cannabis Stock Performance

Shares of IMCC stock traded down $0.24 on Thursday, hitting $1.75. The company’s stock had a trading volume of 47,244 shares, compared to its average volume of 129,234. IM Cannabis has a fifty-two week low of $1.73 and a fifty-two week high of $77.10. The company has a market capitalization of $367,500.00, a PE ratio of -0.03 and a beta of 2.10. The stock’s 50 day moving average is $3.57 and its 200-day moving average is $8.86.

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

IM Cannabis Company Profile

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.