IM Cannabis Corp. (NASDAQ: IMCC) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 169,200 shares, a drop of 58.6% from the January 15th total of 409,100 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 699,900 shares, the short-interest ratio is currently 0.2 days.
A number of large investors have recently bought and sold shares of the business. Gofen & Glossberg LLC IL acquired a new position in shares of IM Cannabis during the third quarter valued at about $ 35,000. Jane Street Group LLC grew its holdings in shares of IM Cannabis by 130.5% during the third quarter. Jane Street Group LLC now owns 36,461 shares of the company’s stock valued at $ 129,000 after buying an additional 20,641 shares during the last quarter. Millennium Management LLC acquired a new position in shares of IM Cannabis during the second quarter valued at about $ 182,000. Bank of Montreal Can grew its holdings in shares of IM Cannabis by 10.3% during the second quarter. Bank of Montreal Can now owns 409,658 shares of the company’s stock valued at $ 2,201,000 after buying an additional 38,291 shares during the last quarter. Finally, KJ Harrison & Partners Inc grew its holdings in shares of IM Cannabis by 4.5% during the fourth quarter. KJ Harrison & Partners Inc now owns 1,398,062 shares of the company’s stock valued at $ 4,661,000 after buying an additional 60,664 shares during the last quarter. Institutional investors and hedge funds own 13.00% of the company’s stock.
IMCC has been the subject of several analyst reports. Zacks Investment Research downgraded shares of IM Cannabis from a “hold” rating to a “sell” rating in a research note on Thursday, February 3rd. Desjardins lowered their target price on shares of IM Cannabis from C $ 10.25 to C $ 9.25 and set a “buy” rating for the company in a research note on Wednesday, November 17th.
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NASDAQ: IMCC traded up $ 0.04 during trading hours on Friday, reaching $ 2.28. The company had a trading volume of 181,023 shares, compared to its average volume of 414,084. The company has a quick ratio of 1.50, a current ratio of 2.29 and a debt-to-equity ratio of 0.08. The firm has a market cap of $ 155.54 million and a price-to-earnings ratio of -3.00. The business’s 50-day simple moving average is $ 2.83 and its two-hundred day simple moving average is $ 3.38. IM Cannabis has a twelve month low of $ 1.56 and a twelve month high of $ 11.63.
IM Cannabis (NASDAQ: IMCC) last posted its quarterly earnings results on Wednesday, November 24th. The company reported ($ 0.14) EPS for the quarter, missing analysts’ consensus estimates of ($ 0.01) by ($ 0.13). The company had revenue of $ 11.43 million during the quarter, compared to analyst estimates of $ 14.50 million. IM Cannabis had a negative return on equity of 19.57% and a negative net margin of 60.79%. As a group, equities analysts predict that IM Cannabis will post -0.15 earnings per share for the current year.
About IM Cannabis
IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel, Germany, and Canada. It offers strains under the Roma, Dairy Queen, London, Tel Aviv, Paris, and Pandora Box brands; and CBD oil products under the IMC brand. The company also offers its intellectual property related services to the medical cannabis industry.
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