Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Decreases By 80.6%

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

Institutional Investors Weigh In On IM Cannabis

A hedge fund recently raised its stake in IM Cannabis stock. AdvisorShares Investments LLC raised its position in IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 620,762 shares of the company’s stock after buying an additional 174,086 shares during the period. AdvisorShares Investments LLC owned about 27.80% of IM Cannabis worth $278,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 7.68% of the company’s stock.

IM Cannabis Stock Performance

IMCC stock traded up $0.18 during midday trading on Thursday, hitting $2.39. The stock had a trading volume of 9,894 shares, compared to its average volume of 104,989. The firm has a market capitalization of $5.33 million, a price-to-earnings ratio of -0.70 and a beta of 0.93. 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 stock has a 50-day simple moving average of $2.47 and a 200 day simple moving average of $2.53. IM Cannabis has a 52 week low of $1.13 and a 52 week high of $8.10.

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.