Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Rises By 1,580.0%

IM Cannabis Corp. (NASDAQ:IMCCGet Free Report) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 336,000 shares, an increase of 1,580.0% from the January 15th total of 20,000 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 207,000 shares, the short-interest ratio is currently 1.6 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new position in IM Cannabis in the 2nd quarter worth approximately $86,000. Jane Street Group LLC lifted 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 in the last quarter. Baader Bank INC lifted its holdings in 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 purchasing an additional 50,904 shares in the last quarter. Black Maple Capital Management LP purchased a new position in IM Cannabis in the 2nd quarter worth approximately $371,000. Finally, Lynwood Capital Management Inc. raised its holdings in shares of IM Cannabis by 18.2% during the 3rd quarter. Lynwood Capital Management Inc. now owns 650,000 shares of the company’s stock worth $467,000 after acquiring an additional 100,000 shares in the last quarter. 9.86% of the stock is owned by hedge funds and other institutional investors.

IM Cannabis Stock Up 9.3 %

IMCC stock opened at $0.28 on Tuesday. IM Cannabis has a twelve month low of $0.19 and a twelve month high of $1.43. The company has a quick ratio of 0.62, a current ratio of 1.01 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $0.31 and its 200-day moving average price is $0.54.

IM Cannabis (NASDAQ:IMCCGet Free Report) last posted its quarterly earnings results on Monday, November 13th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $12.37 million during the quarter, compared to analysts’ expectations of $9.85 million. As a group, research analysts predict that IM Cannabis will post -0.48 EPS for the current year.

About IM Cannabis

(Get Free Report)

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.

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