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

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 474,364 shares, an increase of 121.6% from the July 15th total of 214,028 shares. Based on an average daily volume of 6,421,090 shares, the days-to-cover ratio is currently 0.1 days. Approximately 7.6% of the shares of the company are short sold.

IM Cannabis Stock Performance

IMCC stock traded down $0.01 during trading on Friday, reaching $0.12. 558,930 shares of the company were exchanged, compared to its average volume of 4,346,914. The company has a market cap of $759,462.00, a P/E ratio of -0.06 and a beta of 2.07. The stock’s 50 day moving average price is $0.16 and its 200 day moving average price is $0.45. IM Cannabis has a 52-week low of $0.10 and a 52-week high of $2.83.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On IM Cannabis

An institutional investor recently bought a new position in IM Cannabis stock. DRW Securities LLC acquired a new position in shares of IM Cannabis Corp. (NASDAQ:IMCC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned approximately 0.39% 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.