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

IceCure Medical Ltd. (NASDAQ:ICCM) was the recipient of a significant drop in short interest in the month of 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. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 285,439 shares, the short-interest ratio is presently 2.1 days. Based on an average trading volume of 285,439 shares, the short-interest ratio is presently 2.1 days. Currently, 0.9% of the shares of the company are sold short.

IceCure Medical Trading Down 0.8%

ICCM stock traded down $0.00 during midday trading on Friday, hitting $0.61. 100,558 shares of the company’s stock were exchanged, compared to its average volume of 247,565. IceCure Medical has a 1-year low of $0.58 and a 1-year high of $1.66. The business has a 50-day simple moving average of $0.67 and a two-hundred day simple moving average of $0.83. The stock has a market capitalization of $41.98 million, a PE ratio of -2.35 and a beta of 0.29.

IceCure Medical (NASDAQ:ICCM) last announced its earnings results 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 firm had revenue of $0.85 million during the quarter, compared to analysts’ expectations of $0.63 million. IceCure Medical had a negative net margin of 513.95% and a negative return on equity of 243.68%. As a group, research analysts expect that IceCure Medical will post -0.28 EPS for the current fiscal year.

Institutional Trading of IceCure Medical

A hedge fund recently bought a new stake in IceCure Medical stock. Concurrent Investment Advisors LLC bought a new stake in IceCure Medical Ltd. (NASDAQ:ICCM) in the 4th quarter, according to the company in its most recent 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. 0.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ICCM has been the subject of several recent analyst reports. HC Wainwright lifted their price target on IceCure Medical from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “sell (e+)” rating on shares of IceCure Medical in a research report on Thursday, January 22nd. Two equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.64.

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.