Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Increases By 1,580.0%

IM Cannabis Corp. (NASDAQ:IMCCGet Free Report) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 336,000 shares, an increase of 1,580.0% from the January 15th total of 20,000 shares. Based on an average daily volume of 207,000 shares, the short-interest ratio is currently 1.6 days. Approximately 3.9% of the shares of the stock are sold short.

Institutional Trading of IM Cannabis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lynwood Capital Management Inc. grew its stake in shares of IM Cannabis by 18.2% during the 3rd quarter. Lynwood Capital Management Inc. now owns 650,000 shares of the company’s stock worth $467,000 after acquiring an additional 100,000 shares during the period. Black Maple Capital Management LP purchased a new position in shares of IM Cannabis during the second quarter worth approximately $371,000. Bank of Montreal Can purchased a new stake in IM Cannabis during the 2nd quarter valued at about $86,000. Jane Street Group LLC grew its stake in shares of IM Cannabis by 628.8% in the third quarter. Jane Street Group LLC now owns 130,593 shares of the company’s stock worth $53,000 after purchasing an additional 112,673 shares during the last quarter. Finally, Baader Bank INC increased its position in IM Cannabis by 27.7% during the 1st quarter. Baader Bank INC now owns 235,000 shares of the company’s stock valued at $503,000 after purchasing an additional 50,904 shares during the period. 9.86% of the stock is owned by institutional investors.

IM Cannabis Price Performance

Shares of IMCC stock opened at $0.26 on Monday. IM Cannabis has a 12 month low of $0.19 and a 12 month high of $1.43. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.01 and a quick ratio of 0.62. The business’s 50-day moving average price is $0.31 and its 200-day moving average price is $0.54.

IM Cannabis (NASDAQ:IMCCGet Free Report) last posted its quarterly earnings results on Monday, November 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $12.37 million for the quarter, compared to the consensus estimate of $9.85 million. As a group, equities analysts expect that IM Cannabis will post -0.48 earnings per share for the current year.

About IM Cannabis

(Get Free Report)

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.

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