IM Cannabis Corp. (NASDAQ:IMCC) Sees Significant Increase in Short Interest

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 373,494 shares, an increase of 160.5% from the June 15th total of 143,367 shares. Based on an average daily volume of 12,402,628 shares, the short-interest ratio is currently 0.0 days. Approximately 6.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IM Cannabis in a report on Friday, April 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, IM Cannabis presently has an average rating of “Sell”.

IM Cannabis Stock Up 4.6%

IMCC stock traded up $0.01 during trading on Wednesday, reaching $0.15. 321,916 shares of the company’s stock were exchanged, compared to its average volume of 2,116,299. IM Cannabis has a 1-year low of $0.12 and a 1-year high of $3.61. The firm has a market cap of $920,560.00, a PE ratio of -0.08 and a beta of 2.04. The company’s fifty day moving average price is $0.22 and its 200-day moving average price is $0.65.

Hedge Funds Weigh In On IM Cannabis

A hedge fund recently bought a new position in IM Cannabis stock. Yorkville Advisors Global LP acquired a new stake in IM Cannabis Corp. (NASDAQ:IMCC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 756,029 shares of the company’s stock, valued at approximately $1,452,000. IM Cannabis makes up about 0.3% of Yorkville Advisors Global LP’s portfolio, making the stock its 11th largest position. Yorkville Advisors Global LP owned approximately 14.40% of IM Cannabis at the end of the most recent reporting period. 7.68% of the stock is owned by hedge funds and other institutional investors.

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.