IceCure Medical Ltd. (NASDAQ:ICCM) Short Interest Down 65.8% in July

IceCure Medical Ltd. (NASDAQ:ICCM) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 111,279 shares, a drop of 65.8% from the June 30th total of 325,222 shares. Based on an average daily volume of 298,100 shares, the days-to-cover ratio is currently 0.4 days. Approximately 3.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On IceCure Medical

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of IceCure Medical in the 4th quarter valued at approximately $39,000. Jane Street Group LLC purchased a new position in shares of IceCure Medical during the 4th quarter worth approximately $67,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in IceCure Medical in the 4th quarter valued at approximately $48,000. 0.62% of the stock is currently owned by institutional investors and hedge funds.

IceCure Medical Stock Down 3.1%

NASDAQ:ICCM traded down $0.09 on Tuesday, reaching $2.79. The company’s stock had a trading volume of 44,625 shares, compared to its average volume of 1,460,160. IceCure Medical has a 12-month low of $2.12 and a 12-month high of $42.00. The firm has a market cap of $9.56 million, a price-to-earnings ratio of -0.39 and a beta of 0.43. The stock has a 50 day moving average price of $4.80 and a 200 day moving average price of $11.40.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ICCM shares. Maxim Group dropped their price target on IceCure Medical from $90.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of IceCure Medical in a research note on Friday, July 17th. Wall Street Zen upgraded IceCure Medical to a “sell” rating in a report on Sunday, July 12th. Finally, Alliance Global Partners initiated coverage on IceCure Medical in a research note on Monday, May 4th. They issued a “buy” rating for the company. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.70.

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.