Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Grows By 483.3%

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

Institutional Investors Weigh In On IM Cannabis

A hedge fund recently raised its stake in IM Cannabis stock. AdvisorShares Investments LLC lifted its holdings in shares of IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 620,762 shares of the company’s stock after purchasing an additional 174,086 shares during the period. AdvisorShares Investments LLC owned about 27.80% of IM Cannabis worth $278,000 at the end of the most recent reporting period. 7.68% of the stock is currently owned by institutional investors.

IM Cannabis Stock Up 52.0 %

NASDAQ:IMCC traded up $1.27 during trading hours on Wednesday, hitting $3.71. 3,233,848 shares of the company traded hands, compared to its average volume of 106,393. 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’s 50-day simple moving average is $2.27 and its 200-day simple moving average is $2.66. IM Cannabis has a one year low of $1.13 and a one year high of $8.10. The company has a market cap of $8.27 million, a PE ratio of -1.05 and a beta of 0.45.

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.