IM Cannabis Corp. (NASDAQ:IMCC) Sees Significant Growth in Short Interest

IM Cannabis Corp. (NASDAQ:IMCC) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 44,600 shares, a growth of 607.9% from the June 30th total of 6,300 shares. Based on an average daily trading volume, of 183,600 shares, the days-to-cover ratio is currently 0.2 days. Currently, 3.1% of the shares of the stock are short sold.

IM Cannabis Price Performance

NASDAQ:IMCC traded up $0.26 during mid-day trading on Thursday, reaching $2.48. 16,871 shares of the stock were exchanged, compared to its average volume of 135,926. IM Cannabis has a 1-year low of $1.13 and a 1-year high of $8.10. The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.53 million, a PE ratio of -0.52 and a beta of 0.46. The business has a fifty day moving average price of $2.89 and a 200 day moving average price of $2.82.

IM Cannabis (NASDAQ:IMCC) last issued its earnings results on Wednesday, May 8th. The company reported ($0.96) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.96). IM Cannabis had a negative return on equity of 75.51% and a negative net margin of 28.03%. The business had revenue of $8.95 million for the quarter, compared to analysts’ expectations of $7.84 million. Research analysts expect that IM Cannabis will post -4.32 earnings per share for the current fiscal year.

IM Cannabis Company Profile

IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel and Germany. It offers cannabis flowers and strain-specific cannabis extracts under the IMC brand; and dried flower, pre-rolls, minis, and full spectrum extracts offerings under the WAGNERS and BLKMKT brands.