IceCure Medical Ltd. (NASDAQ:ICCM) Sees Large Growth in Short Interest

IceCure Medical Ltd. (NASDAQ:ICCM) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 107,730 shares, a growth of 164.2% from the August 15th total of 40,780 shares. Approximately 3.2% of the company’s shares are sold short. Based on an average daily volume of 218,702 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ICCM shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IceCure Medical in a research note on Friday, July 17th. Wall Street Zen raised IceCure Medical from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Finally, Zacks Research cut shares of IceCure Medical from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, IceCure Medical has an average rating of “Hold” and an average target price of $52.50.

IceCure Medical Trading Down 5.4%

IceCure Medical stock traded down $0.12 during trading hours on Monday, hitting $2.09. 71,011 shares of the stock traded hands, compared to its average volume of 1,210,316. IceCure Medical has a one year low of $2.06 and a one year high of $42.00. The firm’s 50-day moving average price is $2.93 and its two-hundred day moving average price is $7.55. The company has a market cap of $7.17 million, a PE ratio of -0.25 and a beta of 0.45.

IceCure Medical (NASDAQ:ICCM) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($1.60) earnings per share (EPS) for the quarter. The business had revenue of $0.91 million for the quarter. IceCure Medical had a negative net margin of 427.67% and a negative return on equity of 174.26%. On average, sell-side analysts expect that IceCure Medical will post -4.61 earnings per share for the current fiscal year.

About IceCure Medical

IceCure Medical Ltd. (NASDAQ: ICCM) is a clinical-stage medical device company specializing in the development and commercialization of proprietary cryoablation systems for the treatment of tumors and other pathological tissues. The company’s core technology employs a unique liquid-nitrogen-based platform to deliver rapid cooling through fine-gauge cryoprobes, enabling precise and minimally invasive tissue ablation under imaging guidance. IceCure’s lead product, ProSense, is designed to offer a single-probe approach that can be deployed in an outpatient setting, reducing procedure time and patient recovery periods.

Originally founded in Israel, IceCure Medical obtained its first CE mark for the treatment of benign breast tumors and fibroadenomas in 2017.