IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Down 42.7% in July

IM Cannabis Corp. (NASDAQ:IMCC) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 214,028 shares, a drop of 42.7% from the June 30th total of 373,494 shares. Based on an average trading volume of 381,600 shares, the short-interest ratio is currently 0.6 days. Approximately 3.7% of the company’s shares are short sold.

IM Cannabis Price Performance

Shares of IMCC stock traded down $0.00 on Wednesday, hitting $0.10. The stock had a trading volume of 335,025 shares, compared to its average volume of 2,488,211. The firm has a market capitalization of $646,880.00, a P/E ratio of -0.06 and a beta of 2.04. IM Cannabis has a 1 year low of $0.10 and a 1 year high of $3.13. The company’s 50 day moving average price is $0.20 and its 200-day moving average price is $0.55.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IM Cannabis in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, IM Cannabis presently has an average rating of “Sell”.

Institutional Investors Weigh In On IM Cannabis

An institutional investor recently bought a new position in IM Cannabis stock. DRW Securities LLC purchased a new stake in IM Cannabis Corp. (NASDAQ:IMCC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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. Institutional investors own 7.68% of the company’s stock.

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.