Short Interest in IceCure Medical Ltd. (NASDAQ:ICCM) Expands By 263.7%

IceCure Medical Ltd. (NASDAQ:ICCM) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 325,222 shares, an increase of 263.7% from the June 15th total of 89,416 shares. Currently, 9.7% of the company’s stock are short sold. Based on an average daily volume of 19,668,919 shares, the short-interest ratio is currently 0.0 days.

Institutional Trading of IceCure Medical

Several hedge funds have recently modified their holdings of ICCM. Jane Street Group LLC purchased a new position in shares of IceCure Medical in the 4th quarter worth approximately $67,000. Concurrent Investment Advisors LLC purchased a new stake in IceCure Medical during the fourth quarter valued at approximately $48,000. Finally, Virtu Financial LLC purchased a new stake in IceCure Medical during the fourth quarter valued at approximately $39,000. 0.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of IceCure Medical in a research report on Tuesday, April 21st. Alliance Global Partners assumed coverage on shares of IceCure Medical in a research note on Monday, May 4th. They issued a “buy” rating for the company. Maxim Group dropped their target price on shares of IceCure Medical from $90.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, Wall Street Zen raised shares of IceCure Medical to a “sell” rating in a research report on Sunday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, IceCure Medical has an average rating of “Hold” and an average target price of $62.70.

IceCure Medical Price Performance

NASDAQ ICCM traded up $0.06 during midday trading on Tuesday, hitting $3.60. 103,801 shares of the company traded hands, compared to its average volume of 1,564,602. IceCure Medical has a 52 week low of $2.12 and a 52 week high of $42.00. The company’s 50-day simple moving average is $5.60 and its 200-day simple moving average is $12.53. The company has a market cap of $12.35 million, a PE ratio of -0.50 and a beta of 0.43.

IceCure Medical (NASDAQ:ICCM) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). IceCure Medical had a negative return on equity of 211.73% and a negative net margin of 441.60%.The company had revenue of $0.91 million during the quarter, compared to the consensus estimate of $1.34 million. On average, research analysts predict that IceCure Medical will post -3.51 earnings per share for the current year.

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.