Short Interest in IceCure Medical Ltd (NASDAQ:ICCM) Drops By 22.0%

IceCure Medical Ltd (NASDAQ:ICCM) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 287,700 shares, a drop of 22.0% from the September 30th total of 369,000 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily volume of 559,100 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in IceCure Medical stock. Renaissance Technologies LLC purchased a new stake in shares of IceCure Medical Ltd (NASDAQ:ICCM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 66,400 shares of the company’s stock, valued at approximately $49,000. Renaissance Technologies LLC owned approximately 0.15% of IceCure Medical at the end of the most recent quarter. 0.62% of the stock is currently owned by institutional investors and hedge funds.

IceCure Medical Stock Up 8.3 %

ICCM stock traded up $0.06 during midday trading on Wednesday, reaching $0.85. The company had a trading volume of 1,470,153 shares, compared to its average volume of 526,804. IceCure Medical has a 1 year low of $0.48 and a 1 year high of $1.57. The company has a current ratio of 2.97, a quick ratio of 2.54 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $38.55 million, a P/E ratio of -2.70 and a beta of 0.56. The company has a 50 day moving average of $0.62 and a two-hundred day moving average of $0.80.

IceCure Medical (NASDAQ:ICCM) last released its earnings results on Tuesday, August 20th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. IceCure Medical had a negative net margin of 410.22% and a negative return on equity of 111.27%. The company had revenue of $1.01 million during the quarter, compared to the consensus estimate of $0.90 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. On average, equities research analysts expect that IceCure Medical will post -0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $2.50 target price on shares of IceCure Medical in a research report on Thursday, September 12th.

About IceCure Medical

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and marketing of cryoablation systems, disposables, and technologies for treating tumors. The company offers ProSense system, a single probe system for the treatment of tumors, as well as associated disposables; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.