IM Cannabis Corp. (NASDAQ:IMCC) Sees Large Increase in Short Interest

IM Cannabis Corp. (NASDAQ:IMCC) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 17,500 shares, a growth of 483.3% from the October 31st total of 3,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily volume of 17,400 shares, the short-interest ratio is currently 1.0 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in IM Cannabis stock. AdvisorShares Investments LLC grew its stake in IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing. 7.68% of the stock is owned by institutional investors and hedge funds.

IM Cannabis Price Performance

IMCC stock traded up $0.30 during midday trading on Friday, reaching $3.99. The stock had a trading volume of 924,749 shares, compared to its average volume of 110,275. The company’s fifty day simple moving average is $2.30 and its 200 day simple moving average is $2.67. 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 company has a market cap of $8.90 million, a price-to-earnings ratio of -1.26 and a beta of 0.45. IM Cannabis has a 52-week low of $1.13 and a 52-week high of $8.10.

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.