IM Cannabis Corp. (NASDAQ:IMCC) Stock Short Interest Falls 51.6%

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 36,121 shares, a decline of 51.6% from the September 30th total of 74,661 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average trading volume of 121,192 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IMCC shares. Wall Street Zen cut shares of IM Cannabis to a “strong sell” rating in a report on Saturday, October 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IM Cannabis in a report on Monday, October 19th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has an average rating of “Sell”.

IM Cannabis Trading Down 12.7%

Shares of NASDAQ:IMCC traded down $0.12 during trading on Friday, reaching $0.79. 27,376 shares of the stock were exchanged, compared to its average volume of 96,843. IM Cannabis has a 12 month low of $0.76 and a 12 month high of $62.40. The firm has a market cap of $783,090.00, a PE ratio of -0.01 and a beta of 2.21. The stock has a 50-day moving average price of $2.12 and a 200-day moving average price of $11.50.

IM Cannabis (NASDAQ:IMCC) last released its earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter. The business had revenue of $5.34 million during the quarter.

About IM Cannabis

IM Cannabis Corp. (NASDAQ: IMCC) is a medical cannabis company focused primarily on the Israeli and German markets. The company develops, sources, imports, distributes and markets medical cannabis products under the IMC brand, serving patients through pharmacies, clinics and other authorized channels.

In Israel, IM Cannabis is involved in the supply of medical cannabis products, including flower and other cannabis-based offerings, through affiliated cultivation, processing and distribution operations.