IM Cannabis Corp. (NASDAQ:IMCC – Get Free Report) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 149,100 shares, an increase of 752.0% from the November 15th total of 17,500 shares. Currently, 10.7% of the shares of the stock are sold short. Based on an average trading volume of 87,900 shares, the short-interest ratio is currently 1.7 days.
Institutional Investors Weigh In On IM Cannabis
A hedge fund recently raised its stake in IM Cannabis stock. AdvisorShares Investments LLC grew its stake in IM Cannabis Corp. (NASDAQ:IMCC – Free Report) by 39.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 620,762 shares of the company’s stock after acquiring an additional 174,086 shares during the quarter. AdvisorShares Investments LLC owned about 27.80% of IM Cannabis worth $278,000 at the end of the most recent quarter. 7.68% of the stock is owned by institutional investors and hedge funds.
IM Cannabis Price Performance
Shares of IMCC stock traded down $0.32 during trading hours on Wednesday, hitting $2.45. The company’s stock had a trading volume of 34,198 shares, compared to its average volume of 108,559. The company has a current ratio of 0.70, a quick ratio of 0.59 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $2.46 and a 200-day moving average of $2.60. IM Cannabis has a twelve month low of $1.13 and a twelve month high of $8.10. The stock has a market cap of $5.47 million, a price-to-earnings ratio of -0.74 and a beta of 0.92.
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.
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