Short Interest in IceCure Medical Ltd (NASDAQ:ICCM) Grows By 718.6%

IceCure Medical Ltd (NASDAQ:ICCM) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 2,310,000 shares, an increase of 718.6% from the October 31st total of 282,200 shares. Based on an average daily trading volume, of 677,400 shares, the days-to-cover ratio is presently 3.4 days. Approximately 10.5% of the shares of the company are sold short.

Hedge Funds Weigh In On IceCure Medical

An institutional investor recently bought a new position in IceCure Medical stock. Renaissance Technologies LLC bought a new stake in IceCure Medical Ltd (NASDAQ:ICCM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 66,400 shares of the company’s stock, valued at approximately $49,000. Renaissance Technologies LLC owned approximately 0.15% of IceCure Medical at the end of the most recent quarter. Hedge funds and other institutional investors own 0.62% of the company’s stock.

IceCure Medical Stock Performance

Shares of NASDAQ:ICCM traded down $0.01 during midday trading on Friday, hitting $0.83. The stock had a trading volume of 112,477 shares, compared to its average volume of 580,149. The company’s 50-day moving average price is $0.65 and its 200-day moving average price is $0.73. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.67 and a quick ratio of 2.54. IceCure Medical has a fifty-two week low of $0.48 and a fifty-two week high of $1.57.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ICCM. HC Wainwright restated a “buy” rating and set a $2.50 target price on shares of IceCure Medical in a research note on Wednesday. Alliance Global Partners upgraded shares of IceCure Medical to a “strong-buy” rating in a research note on Friday, November 1st.

About IceCure Medical

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and marketing of cryoablation systems, disposables, and technologies for treating tumors. The company offers ProSense system, a single probe system for the treatment of tumors, as well as associated disposables; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.