IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Up 271.8% in May

IM Cannabis Corp. (NASDAQ:IMCC) was the target of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 102,717 shares, an increase of 271.8% from the May 14th total of 27,624 shares. Based on an average trading volume of 1,102,910 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.7% of the shares of the company are short sold.

IM Cannabis Stock Performance

NASDAQ IMCC traded down $0.01 during trading hours on Friday, hitting $0.23. 231,243 shares of the stock were exchanged, compared to its average volume of 720,727. The company has a market cap of $1.45 million, a price-to-earnings ratio of -0.13 and a beta of 1.99. IM Cannabis has a 12-month low of $0.21 and a 12-month high of $3.75. The stock has a 50-day moving average of $0.29 and a 200 day moving average of $0.88. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 0.25.

IM Cannabis (NASDAQ:IMCC) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.95). IM Cannabis had a negative return on equity of 585.96% and a negative net margin of 27.65%.The firm had revenue of $11.25 million for the quarter, compared to analysts’ expectations of $15.66 million.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a report on Friday, April 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Trading of IM Cannabis

A hedge fund recently bought a new stake in IM Cannabis stock. DRW Securities LLC acquired a new stake in IM Cannabis Corp. (NASDAQ:IMCC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 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 SEC filing. Institutional investors own 7.68% of the company’s stock.

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.