Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Rises By 160.5%

IM Cannabis Corp. (NASDAQ:IMCC) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 373,494 shares, a growth of 160.5% from the June 15th total of 143,367 shares. Currently, 6.4% of the company’s stock are short sold. Based on an average daily trading volume, of 12,402,628 shares, the days-to-cover ratio is presently 0.0 days.

IM Cannabis Trading Down 4.8%

Shares of IMCC opened at $0.15 on Tuesday. The company has a market cap of $917,450.00, a price-to-earnings ratio of -0.08 and a beta of 2.04. The business’s fifty day simple moving average is $0.22 and its two-hundred day simple moving average is $0.66. IM Cannabis has a 12 month low of $0.12 and a 12 month high of $3.61.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of IM Cannabis in a research note on Friday, April 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, IM Cannabis presently 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 purchased a new position in IM Cannabis Corp. (NASDAQ:IMCC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned 0.39% of IM Cannabis as of its most recent SEC filing. 7.68% of the stock is owned by hedge funds and other 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.