IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Update

IM Cannabis Corp. (NASDAQ:IMCC – Get Rating) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 294,700 shares, an increase of 80.2% from the February 13th total of 163,500 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 399,200 shares, the days-to-cover ratio is currently 0.7 days.

Shares of IM Cannabis stock opened at $1.83 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.50 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $2.37 and its two-hundred day moving average price is $3.00. IM Cannabis has a 52 week low of $1.56 and a 52 week high of $8.40. The stock has a market cap of $124.84 million and a PE ratio of -2.41.

Institutional investors have recently modified their holdings of the business. AdvisorShares Investments LLC raised its holdings in IM Cannabis by 66.4% during the 4th quarter. AdvisorShares Investments LLC now owns 692,947 shares of the company’s stock worth $2,314,000 after buying an additional 276,554 shares during the period. K.J. Harrison & Partners Inc raised its holdings in IM Cannabis by 24.6% during the 3rd quarter. K.J. Harrison & Partners Inc now owns 1,337,398 shares of the company’s stock worth $4,751,000 after buying an additional 263,900 shares during the period. EMC Capital Management raised its holdings in IM Cannabis by 37.6% during the 3rd quarter. EMC Capital Management now owns 252,966 shares of the company’s stock worth $696,000 after buying an additional 69,078 shares during the period. Royal Bank of Canada raised its holdings in IM Cannabis by 37.6% during the 2nd quarter. Royal Bank of Canada now owns 244,429 shares of the company’s stock worth $1,298,000 after buying an additional 66,752 shares during the period. Finally, Cowen AND Company LLC acquired a new stake in IM Cannabis during the 3rd quarter worth about $222,000. Hedge funds and other institutional investors own 13.50% of the company’s stock.

(Ad)

Policymakers are finally waking up to the powerful medicinal properties of plant medicines and Ei.Ventures is working on leading this charge.

A number of equities analysts have commented on IMCC shares. Zacks Investment Research downgraded shares of IM Cannabis from a “hold” rating to a “sell” rating in a report on Thursday, February 3rd. Desjardins reduced their price target on shares of IM Cannabis from C$10.25 to C$9.25 and set a “buy” rating for the company in a report on Wednesday, November 17th.

About IM Cannabis (Get Rating)

IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel, Germany, and Canada. It offers strains under the Roma, Dairy Queen, London, Tel Aviv, Paris, and Pandora Box brands; and CBD oil products under the IMC brand. The company also offers its intellectual property related services to the medical cannabis industry.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in IM Cannabis right now?

Before you consider IM Cannabis, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and IM Cannabis wasn’t on the list.

While IM Cannabis currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


Source link

Leave a Reply

Your email address will not be published.