IM Cannabis (NASDAQ:IMCC) Stock Price Down 5% – What’s Next?

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

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

IM Cannabis Stock Up 1.8%

The company has a quick ratio of 0.56, a current ratio of 0.82 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $1.47 and its 200 day moving average price is $1.81. The firm has a market cap of $6.04 million, a P/E ratio of -1.47 and a beta of 2.10.

IM Cannabis (NASDAQ:IMCC) last posted its earnings results on Thursday, November 13th. The company reported ($0.54) earnings per share (EPS) 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 firm had revenue of $9.89 million for the quarter, compared to analyst estimates of $14.27 million.

Institutional Trading of IM Cannabis

Hedge funds have recently added to or reduced their stakes in the business. Hidden Cove Wealth Management LLC bought a new position in shares of IM Cannabis in the third quarter worth $27,000. Heron Bay Capital Management acquired a new stake in IM Cannabis in the second quarter worth about $195,000. Finally, Yorkville Advisors Global LP bought a new position in IM Cannabis in the 3rd quarter valued at about $1,452,000. 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.