Short Interest in IceCure Medical Ltd. (NASDAQ:ICCM) Increases By 164.2%

IceCure Medical Ltd. (NASDAQ:ICCM) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 107,730 shares, an increase of 164.2% from the August 15th total of 40,780 shares. Based on an average daily trading volume, of 218,702 shares, the short-interest ratio is presently 0.5 days. Approximately 3.2% of the shares of the stock are short sold.

IceCure Medical Trading Up 3.3%

Shares of NASDAQ ICCM opened at $2.21 on Friday. IceCure Medical has a 1-year low of $2.06 and a 1-year high of $42.00. The company has a 50-day moving average of $2.93 and a two-hundred day moving average of $7.61. The company has a market cap of $7.58 million, a PE ratio of -0.26 and a beta of 0.45.

IceCure Medical (NASDAQ:ICCM) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($1.60) EPS for the quarter. The company had revenue of $0.91 million for the quarter. IceCure Medical had a negative net margin of 427.67% and a negative return on equity of 174.26%. As a group, equities research analysts forecast that IceCure Medical will post -4.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Zacks Research downgraded shares of IceCure Medical from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Wall Street Zen raised shares of IceCure Medical from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of IceCure Medical in a research note on Friday, July 17th. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $52.50.

Institutional Investors Weigh In On IceCure Medical

An institutional investor recently bought a new stake in IceCure Medical stock. Virtu Financial LLC bought a new position in shares of IceCure Medical Ltd. (NASDAQ:ICCM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 64,524 shares of the company’s stock, valued at approximately $39,000. Virtu Financial LLC owned about 0.09% of IceCure Medical as of its most recent SEC filing. Institutional investors own 0.62% of the company’s stock.

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.