Short Interest in IceCure Medical Ltd. (NASDAQ:ICCM) Drops By 36.7%

IceCure Medical Ltd. (NASDAQ:ICCM) saw a large drop in short interest in January. As of January 15th, there was short interest totaling 611,378 shares, a drop of 36.7% from the December 31st total of 966,250 shares. Based on an average daily trading volume, of 285,439 shares, the days-to-cover ratio is currently 2.1 days. Approximately 0.9% of the company’s shares are sold short. Approximately 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 285,439 shares, the days-to-cover ratio is currently 2.1 days.

IceCure Medical Stock Performance

Shares of IceCure Medical stock traded up $0.01 during mid-day trading on Monday, hitting $0.62. The stock had a trading volume of 293,167 shares, compared to its average volume of 237,729. The firm has a 50-day moving average of $0.67 and a two-hundred day moving average of $0.82. IceCure Medical has a 12-month low of $0.58 and a 12-month high of $1.66.

IceCure Medical (NASDAQ:ICCM) last issued its quarterly earnings data on Wednesday, November 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $0.85 million for the quarter, compared to analyst estimates of $0.63 million. IceCure Medical had a negative return on equity of 243.68% and a negative net margin of 513.95%. On average, analysts expect that IceCure Medical will post -0.28 EPS for the current year.

Hedge Funds Weigh In On IceCure Medical

A hedge fund recently bought a new stake in IceCure Medical stock. Concurrent Investment Advisors LLC bought a new position in shares of IceCure Medical Ltd. (NASDAQ:ICCM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 78,285 shares of the company’s stock, valued at approximately $48,000. Concurrent Investment Advisors LLC owned approximately 0.11% of IceCure Medical at the end of the most recent quarter. Institutional investors own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of IceCure Medical in a research report on Thursday, January 22nd. HC Wainwright lifted their price target on shares of IceCure Medical from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, IceCure Medical presently has an average rating of “Hold” and an average price target of $2.64.

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.