IM Cannabis (NASDAQ:IMCC) Stock Price Down 5% – Here’s Why

IM Cannabis Corp. (NASDAQ:IMCC) fell 5% during trading on Thursday . The stock traded as low as $1.12 and last traded at $1.13. 53,776 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 74,118 shares. The stock had previously closed at $1.19.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of IM Cannabis in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

IM Cannabis Price Performance

The stock has a fifty day moving average of $1.47 and a two-hundred day moving average of $1.81. The company has a current ratio of 0.82, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $6.04 million, a price-to-earnings ratio of -1.47 and a beta of 2.10.

IM Cannabis (NASDAQ:IMCC) last announced its earnings results on Thursday, November 13th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.52). IM Cannabis had a negative net margin of 9.47% and a negative return on equity of 134.35%. The business had revenue of $9.89 million during the quarter, compared to analyst estimates of $14.27 million.

Hedge Funds Weigh In On IM Cannabis

Several large investors have recently bought and sold shares of the business. Hidden Cove Wealth Management LLC bought a new position in IM Cannabis during the third quarter worth about $27,000. Heron Bay Capital Management acquired a new stake in shares of IM Cannabis during the second quarter worth $195,000. Finally, Yorkville Advisors Global LP bought a new stake in shares of IM Cannabis in the third quarter valued at about $1,452,000. 7.68% of the stock is currently owned by institutional investors and hedge funds.

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.