Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Declines By 46.8%

IM Cannabis Corp. (NASDAQ:IMCC) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 137,663 shares, a decline of 46.8% from the December 15th total of 258,951 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average trading volume of 249,130 shares, the days-to-cover ratio is currently 0.6 days. Based on an average trading volume of 249,130 shares, the days-to-cover ratio is currently 0.6 days. Approximately 2.6% of the shares of the company are sold short.

IM Cannabis Price Performance

Shares of IMCC traded up $0.03 during trading hours on Friday, hitting $1.38. 14,890 shares of the company were exchanged, compared to its average volume of 71,442. 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 fifty-two week low of $0.93 and a fifty-two week high of $7.12. The company has a market cap of $7.23 million, a price-to-earnings ratio of -1.77 and a beta of 2.10. The firm’s fifty day moving average is $1.51 and its 200 day moving average is $2.00.

IM Cannabis (NASDAQ:IMCC) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.52). IM Cannabis had a negative return on equity of 134.35% and a negative net margin of 9.47%.The firm had revenue of $9.89 million for the quarter, compared to the consensus estimate of $14.27 million.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Yorkville Advisors Global LP acquired a new stake in shares of IM Cannabis in the 3rd quarter valued at $1,452,000. Heron Bay Capital Management acquired a new stake in IM Cannabis in the second quarter valued at about $195,000. Finally, Hidden Cove Wealth Management LLC bought a new position in IM Cannabis in the third quarter valued at about $27,000. 7.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

IM Cannabis Company Profile

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.