Q2 2023 EPS Estimates for IM Cannabis Corp. (NASDAQ:IMCC) Reduced by Analyst

IM Cannabis Corp. (NASDAQ:IMCC – Get Rating) – Equities research analysts at Alliance Global Partners dropped their Q2 2023 earnings per share (EPS) estimates for shares of IM Cannabis in a research note issued on Wednesday, May 17th. Alliance Global Partners analyst A. Grey now expects that the company will post earnings of ($0.13) per share for the quarter, down from their prior estimate of ($0.11). Alliance Global Partners currently has a “Neutral” rating on the stock. The consensus estimate for IM Cannabis’ current full-year earnings is ($0.44) per share. Alliance Global Partners also issued estimates for IM Cannabis’ Q3 2023 earnings at ($0.10) EPS, Q4 2023 earnings at ($0.08) EPS, FY2023 earnings at ($0.33) EPS and FY2024 earnings at ($0.39) EPS.

IM Cannabis Price Performance

IMCC opened at $1.03 on Friday. IM Cannabis has a 12-month low of $0.59 and a 12-month high of $11.50. The stock has a 50-day moving average price of $0.72 and a 200-day moving average price of $1.37. The company has a current ratio of 1.14, a quick ratio of 0.48 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IMCC. Wasatch Advisors Inc. boosted its stake in IM Cannabis by 712.7% during the 1st quarter. Wasatch Advisors Inc. now owns 3,822,027 shares of the company’s stock valued at $8,099,000 after purchasing an additional 3,351,758 shares during the last quarter. Baader Bank INC boosted its stake in shares of IM Cannabis by 27.7% in the 1st quarter. Baader Bank INC now owns 235,000 shares of the company’s stock worth $503,000 after buying an additional 50,904 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in IM Cannabis in the 3rd quarter worth $63,000. Jane Street Group LLC raised its holdings in IM Cannabis by 628.8% in the 3rd 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 period. Finally, AdvisorShares Investments LLC raised its holdings in IM Cannabis by 63.3% in the 1st quarter. AdvisorShares Investments LLC now owns 233,590 shares of the company’s stock worth $167,000 after purchasing an additional 90,585 shares during the period. Institutional investors own 86.58% of the company’s stock.

IM Cannabis Company 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.