IM Cannabis Corp. (NASDAQ:IMCC – Get 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.
About IM Cannabis
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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