IceCure Medical Ltd. (NASDAQ:ICCM) Short Interest Update

IceCure Medical Ltd. (NASDAQ:ICCM) was the target of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 718,392 shares, a decrease of 44.2% from the May 14th total of 1,286,399 shares. Based on an average daily trading volume, of 759,175 shares, the days-to-cover ratio is currently 0.9 days. Approximately 26.2% of the shares of the stock are short sold.

IceCure Medical Stock Performance

Shares of ICCM stock traded down $0.29 on Friday, hitting $2.39. The company had a trading volume of 89,225 shares, compared to its average volume of 86,965. The firm has a market cap of $6.72 million, a P/E ratio of -0.33 and a beta of 0.40. The stock’s 50-day moving average is $7.53 and its two-hundred day moving average is $14.86. IceCure Medical has a twelve month low of $2.38 and a twelve month high of $42.00.

IceCure Medical (NASDAQ:ICCM) last released its earnings results on Tuesday, May 12th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). IceCure Medical had a negative return on equity of 211.73% and a negative net margin of 441.60%.The business had revenue of $0.91 million for the quarter, compared to analyst estimates of $1.34 million. Equities research analysts predict that IceCure Medical will post -4.5 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on ICCM shares. Maxim Group dropped their price objective 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 restated a “sell (e+)” rating on shares of IceCure Medical in a research report on Tuesday, April 21st. Finally, Alliance Global Partners started coverage on IceCure Medical in a research report on Monday, May 4th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.70.

Institutional Investors Weigh In On IceCure Medical

Hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of IceCure Medical in the fourth quarter valued at approximately $39,000. Concurrent Investment Advisors LLC bought a new stake in IceCure Medical during the fourth quarter worth about $48,000. Finally, Jane Street Group LLC bought a new stake in IceCure Medical during the fourth quarter worth about $67,000. Institutional investors and hedge funds own 0.62% of the company’s stock.

IceCure Medical Company Profile

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.