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

IM Cannabis Corp. (NASDAQ:IMCC) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 17,500 shares, a growth of 483.3% from the October 31st total of 3,000 shares. Based on an average trading volume of 17,400 shares, the days-to-cover ratio is currently 1.0 days. Approximately 1.8% of the company’s shares are short sold.

IM Cannabis Trading Up 8.1 %

Shares of NASDAQ:IMCC traded up $0.30 during midday trading on Friday, reaching $3.99. 924,749 shares of the company’s stock were exchanged, compared to its average volume of 110,275. The firm’s 50 day simple moving average is $2.30 and its two-hundred day simple moving average is $2.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.70 and a quick ratio of 0.59. The stock has a market cap of $8.90 million, a price-to-earnings ratio of -1.26 and a beta of 0.45. IM Cannabis has a fifty-two week low of $1.13 and a fifty-two week high of $8.10.

Institutional Trading of IM Cannabis

An institutional investor recently raised its position in IM Cannabis stock. AdvisorShares Investments LLC increased its holdings in shares of IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 620,762 shares of the company’s stock after purchasing an additional 174,086 shares during the quarter. AdvisorShares Investments LLC owned 27.80% of IM Cannabis worth $278,000 at the end of the most recent reporting period. 7.68% of the stock is currently owned by hedge funds and other institutional investors.

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.