IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Down 38.0% in February

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a significant decline in short interest in February. As of February 13th, there was short interest totaling 19,228 shares, a decline of 38.0% from the January 29th total of 30,993 shares. Based on an average daily volume of 38,381 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the company’s stock are sold short. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 38,381 shares, the days-to-cover ratio is presently 0.5 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of IM Cannabis in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On IM Cannabis

A number of hedge funds have recently modified their holdings of IMCC. Hidden Cove Wealth Management LLC bought a new position in shares of IM Cannabis in the 3rd quarter valued at about $27,000. DRW Securities LLC acquired a new position in IM Cannabis during the fourth quarter valued at approximately $32,000. Heron Bay Capital Management bought a new position in IM Cannabis in the second quarter valued at approximately $195,000. Finally, Yorkville Advisors Global LP acquired a new position in shares of IM Cannabis during the 3rd quarter worth approximately $1,452,000. Institutional investors and hedge funds own 7.68% of the company’s stock.

IM Cannabis Trading Up 6.1%

NASDAQ:IMCC traded up $0.04 during trading hours on Monday, hitting $0.72. 20,351 shares of the stock were exchanged, compared to its average volume of 57,029. The company has a quick ratio of 0.56, a current ratio of 0.82 and a debt-to-equity ratio of 0.25. IM Cannabis has a twelve month low of $0.68 and a twelve month high of $7.12. The company has a market capitalization of $4.25 million, a P/E ratio of -0.92 and a beta of 2.17. The company’s 50 day moving average is $1.24 and its two-hundred day moving average is $1.60.

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.