Bank of Montreal Can Trims Stake in IM Cannabis Corp. (NASDAQ:IMCC)

Bank of Montreal Can reduced its holdings in shares of IM Cannabis Corp. (NASDAQ:IMCC – Get Rating) by 92.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,573 shares of the company’s stock after selling 488,356 shares during the quarter. Bank of Montreal Can owned approximately 0.50% of IM Cannabis worth $37,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wasatch Advisors Inc. raised its stake in shares of IM Cannabis by 712.7% during the 1st quarter. Wasatch Advisors Inc. now owns 3,822,027 shares of the company’s stock worth $8,099,000 after buying an additional 3,351,758 shares in the last quarter. Baader Bank INC raised its position in IM Cannabis by 27.7% in the first 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. ExodusPoint Capital Management LP acquired a new stake in shares of IM Cannabis during the third quarter valued at about $63,000. Finally, Jane Street Group LLC grew its stake in 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 in the last quarter. 86.58% of the stock is owned by institutional investors and hedge funds.

IM Cannabis Price Performance

IM Cannabis stock opened at $0.72 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.97 and a quick ratio of 0.48. The company has a market capitalization of $8.04 million, a PE ratio of -0.04 and a beta of 0.92. IM Cannabis Corp. has a one year low of $0.59 and a one year high of $11.80. The business has a 50 day simple moving average of $0.71 and a 200 day simple moving average of $1.49.

Analyst Ratings Changes

Separately, Alliance Global Partners downgraded IM Cannabis from a “buy” rating to a “neutral” rating in a research report on Thursday, March 30th.

IM Cannabis Profile

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