IM Cannabis Corp. (NASDAQ: IMCC – Get Rating) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 150,200 shares, a decline of 49.0% from the February 28th total of 294,700 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 321,500 shares, the days-to-cover ratio is currently 0.5 days.
NASDAQ: IMCC traded down $ 0.07 during trading hours on Monday, hitting $ 2.01. The company had a trading volume of 4,236 shares, compared to its average volume of 365,733. IM Cannabis has a 1 year low of $ 1.56 and a 1 year high of $ 8.07. The firm has a market capitalization of $ 137.12 million and a P / E ratio of -2.59. The business’s 50-day moving average price is $ 2.13. The company has a current ratio of 2.29, a quick ratio of 1.50 and a debt-to-equity ratio of 0.08.
Several hedge funds and other institutional investors have recently bought and sold shares of IMCC. Jane Street Group LLC grew its holdings in shares of IM Cannabis by 130.5% in the third quarter. Jane Street Group LLC now owns 36,461 shares of the company’s stock valued at $ 129,000 after purchasing an additional 20,641 shares during the period. Millennium Management LLC purchased a new stake in shares of IM Cannabis in the 2nd quarter valued at approximately $ 182,000. KJ Harrison & Partners Inc increased its holdings in shares of IM Cannabis by 4.5% during the 4th quarter. KJ Harrison & Partners Inc now owns 1,398,062 shares of the company’s stock worth $ 4,661,000 after buying an additional 60,664 shares during the last quarter. Cowen AND Company LLC purchased a new stake in shares of IM Cannabis during the 3rd quarter valued at approximately $ 222,000. Finally, AdvisorShares Investments LLC lifted its holdings in IM Cannabis by 18.3% in the third quarter. AdvisorShares Investments LLC now owns 416,393 shares of the company’s stock valued at $ 1,470,000 after acquiring an additional 64,271 shares during the last quarter. Institutional investors and hedge funds own 13.50% of the company’s stock.
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Separately, Zacks Investment Research downgraded shares of IM Cannabis from a “hold” rating to a “sell” rating in a report on Thursday, February 3rd.
About IM Cannabis (Get Rating)
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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