IM Cannabis Stock to Reverse Split on Thursday, August 27th (NASDAQ:IMCC)

Shares of IM Cannabis Corp. (NASDAQ:IMCC) are going to reverse split before the market opens on Thursday, August 27th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, August 26th.

IM Cannabis Trading Up 1.0%

Shares of IMCC stock traded up $0.00 during trading on Wednesday, hitting $0.11. The company’s stock had a trading volume of 1,632,511 shares, compared to its average volume of 6,516,137. The company has a market cap of $659,320.00, a PE ratio of -0.05 and a beta of 2.07. The business has a fifty day moving average of $0.15 and a 200-day moving average of $0.41. IM Cannabis has a 52 week low of $0.09 and a 52 week high of $2.61.

IM Cannabis (NASDAQ:IMCC) last announced its earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter. IM Cannabis had a negative net margin of 39.62% and a negative return on equity of 585.96%. The business had revenue of $5.34 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On IM Cannabis

An institutional investor recently bought a new position in IM Cannabis stock. DRW Securities LLC acquired a new stake in shares of IM Cannabis Corp. (NASDAQ:IMCC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned about 0.39% of IM Cannabis at the end of the most recent quarter. 7.68% of the stock is owned by institutional investors.

About IM Cannabis

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.