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

IM Cannabis Corp. (NASDAQ:IMCCGet 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

(Get Rating)

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.

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