IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Update

IM Cannabis Corp. (NASDAQ:IMCC) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 28,900 shares, a decline of 80.6% from the November 30th total of 149,100 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average trading volume of 88,900 shares, the days-to-cover ratio is currently 0.3 days.

IM Cannabis Trading Up 8.1 %

Shares of IMCC stock traded up $0.18 during trading hours on Thursday, reaching $2.39. 9,894 shares of the stock traded hands, compared to its average volume of 104,989. The company has a quick ratio of 0.59, a current ratio of 0.70 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $5.33 million, a PE ratio of -0.70 and a beta of 0.93. IM Cannabis has a 1-year low of $1.13 and a 1-year high of $8.10. The business has a fifty day moving average price of $2.47 and a 200 day moving average price of $2.53.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IM Cannabis stock. AdvisorShares Investments LLC increased its stake in IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 620,762 shares of the company’s stock after purchasing an additional 174,086 shares during the quarter. AdvisorShares Investments LLC owned approximately 27.80% of IM Cannabis worth $278,000 at the end of the most recent reporting period. 7.68% of the stock is owned by hedge funds and other institutional investors.

IM Cannabis Company Profile

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.