Short Interest in IM Cannabis Corp. (NASDAQ:IMCC) Rises By 752.0%

IM Cannabis Corp. (NASDAQ:IMCC) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 149,100 shares, a growth of 752.0% from the November 15th total of 17,500 shares. Approximately 10.7% of the shares of the company are sold short. Based on an average daily volume of 87,900 shares, the short-interest ratio is currently 1.7 days.

IM Cannabis Stock Performance

Shares of IMCC stock traded down $0.32 during trading hours on Wednesday, reaching $2.45. 34,198 shares of the company’s stock were exchanged, compared to its average volume of 108,559. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.70 and a quick ratio of 0.59. IM Cannabis has a 1 year low of $1.13 and a 1 year high of $8.10. The company has a market cap of $5.47 million, a P/E ratio of -0.74 and a beta of 0.92. The company’s 50 day moving average is $2.46 and its two-hundred day moving average is $2.60.

Institutional Investors Weigh In On IM Cannabis

An institutional investor recently raised its position in IM Cannabis stock. AdvisorShares Investments LLC lifted its stake in IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 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 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.