IM Cannabis Corp. (NASDAQ:IMCC – Get Free Report) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 74,661 shares, an increase of 64.4% from the September 15th total of 45,409 shares. Currently, 38.3% of the company’s stock are short sold. Based on an average daily volume of 14,912,101 shares, the short-interest ratio is currently 0.0 days.
IM Cannabis Stock Up 4.5%
Shares of IM Cannabis stock traded up $0.06 during trading on Friday, reaching $1.39. The company’s stock had a trading volume of 85,879 shares, compared to its average volume of 8,510,913. IM Cannabis has a 1-year low of $1.20 and a 1-year high of $77.10. The company has a market cap of $1.38 million, a price-to-earnings ratio of -0.02 and a beta of 2.21. The company has a 50-day simple moving average of $2.60 and a two-hundred day simple moving average of $5.47.
IM Cannabis (NASDAQ:IMCC – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share for the quarter. The firm had revenue of $5.34 million for the quarter.
Analyst Ratings Changes
A number of brokerages have recently issued reports on IMCC. Weiss Ratings reiterated a “sell (e+)” rating on shares of IM Cannabis in a report on Tuesday, July 21st. Wall Street Zen cut IM Cannabis to a “strong sell” rating in a research note on Saturday, October 10th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has an average rating of “Sell”.
Read Our Latest Stock Report on IMCC
IM Cannabis Company Profile
IM Cannabis Corp. is a medical cannabis company focused on the cultivation, importation, distribution and sale of cannabis products. The company markets products under the IMC brand and serves patients through regulated medical cannabis channels.
IM Cannabis operates primarily in Israel and Germany. In Israel, the company’s activities include supplying medical cannabis products through pharmacies and other authorized distribution channels. In Germany, it participates in the medical cannabis market through the importation and distribution of pharmaceutical-grade products.
The company was established in 2018 and has developed its business through subsidiaries and strategic partnerships in its target markets.
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