IceCure Medical Ltd. (NASDAQ:ICCM) Sees Significant Decrease in Short Interest

IceCure Medical Ltd. (NASDAQ:ICCM) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 37,525 shares, a decrease of 66.3% from the July 15th total of 111,279 shares. Based on an average daily volume of 74,572 shares, the short-interest ratio is currently 0.5 days. Approximately 1.1% of the shares of the company are short sold.

IceCure Medical Trading Up 0.7%

ICCM stock traded up $0.02 during midday trading on Friday, hitting $3.02. The stock had a trading volume of 49,358 shares, compared to its average volume of 79,042. IceCure Medical has a 52 week low of $2.12 and a 52 week high of $42.00. The stock has a 50-day simple moving average of $3.93 and a 200 day simple moving average of $9.78. The firm has a market capitalization of $10.35 million, a price-to-earnings ratio of -0.35 and a beta of 0.47.

IceCure Medical (NASDAQ:ICCM) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($1.64) earnings per share (EPS) for the quarter. The business had revenue of $0.91 million during the quarter. IceCure Medical had a negative net margin of 427.67% and a negative return on equity of 174.26%. On average, equities analysts forecast that IceCure Medical will post -4.61 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC bought a new position in IceCure Medical during the fourth quarter worth about $48,000. Jane Street Group LLC acquired a new position in shares of IceCure Medical in the 4th quarter worth approximately $67,000. Finally, Virtu Financial LLC acquired a new position in shares of IceCure Medical in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 0.62% of the company’s stock.

Analyst Ratings Changes

ICCM has been the topic of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of IceCure Medical in a report on Friday, July 17th. Alliance Global Partners started coverage on shares of IceCure Medical in a research note on Monday, May 4th. They issued a “buy” rating for the company. Maxim Group decreased their target price on IceCure Medical from $90.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, Wall Street Zen upgraded IceCure Medical to a “sell” rating in a research note on Sunday, July 12th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.50.

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.