IceCure Medical Ltd (NASDAQ:ICCM) Sees Large Drop in Short Interest

IceCure Medical Ltd (NASDAQ:ICCM) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 285,500 shares, a drop of 52.3% from the February 28th total of 598,100 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average trading volume of 378,700 shares, the days-to-cover ratio is presently 0.8 days.

IceCure Medical Stock Up 0.5 %

Shares of ICCM stock traded up $0.01 during trading hours on Friday, reaching $1.11. The company had a trading volume of 221,593 shares, compared to its average volume of 521,961. The company has a market capitalization of $61.61 million, a P/E ratio of -3.83 and a beta of 0.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.27 and a current ratio of 2.67. IceCure Medical has a twelve month low of $0.48 and a twelve month high of $1.66. The stock’s fifty day simple moving average is $1.32 and its 200 day simple moving average is $0.99.

IceCure Medical (NASDAQ:ICCM) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). IceCure Medical had a negative net margin of 376.85% and a negative return on equity of 124.44%. The firm had revenue of $1.07 million during the quarter, compared to analyst estimates of $1.07 million. As a group, sell-side analysts expect that IceCure Medical will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IceCure Medical

A hedge fund recently raised its stake in IceCure Medical stock. Geode Capital Management LLC grew its holdings in shares of IceCure Medical Ltd (NASDAQ:ICCM) by 58.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,453 shares of the company’s stock after acquiring an additional 14,893 shares during the period. Geode Capital Management LLC owned about 0.07% of IceCure Medical worth $44,000 as of its most recent SEC filing. 0.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.