Equities Analysts Issue Forecasts for IM Cannabis Corp.’s Q3 2024 Earnings (NASDAQ:IMCC)

IM Cannabis Corp. (NASDAQ:IMCC) – Stock analysts at Roth Capital lowered their Q3 2024 earnings per share estimates for shares of IM Cannabis in a research note issued to investors on Thursday, August 15th. Roth Capital analyst S. Fortune now forecasts that the company will post earnings of ($1.36) per share for the quarter, down from their prior forecast of ($0.90). The consensus estimate for IM Cannabis’ current full-year earnings is ($4.32) per share. Roth Capital also issued estimates for IM Cannabis’ Q4 2024 earnings at ($1.15) EPS, FY2024 earnings at ($5.61) EPS, Q1 2025 earnings at ($0.93) EPS, Q2 2025 earnings at ($0.68) EPS, Q3 2025 earnings at ($0.41) EPS, Q4 2025 earnings at ($0.31) EPS and FY2025 earnings at ($2.33) EPS.

IM Cannabis Stock Down 6.1 %

Shares of NASDAQ:IMCC opened at $2.77 on Monday. IM Cannabis has a 1 year low of $1.13 and a 1 year high of $8.10. The company has a market cap of $6.19 million, a PE ratio of -0.58 and a beta of 0.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.65 and a quick ratio of 0.40. The stock’s 50-day moving average is $2.70 and its 200 day moving average is $3.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IM Cannabis stock. AdvisorShares Investments LLC grew its position in shares of IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 620,762 shares of the company’s stock after acquiring an additional 174,086 shares during the period. AdvisorShares Investments LLC owned about 27.80% of IM Cannabis worth $278,000 at the end of the most recent quarter. 7.68% of the stock is owned by institutional investors and hedge funds.

About IM Cannabis

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.