IM Cannabis (NASDAQ:IMCC) Shares Up 15.7% – Here’s Why

IM Cannabis Corp. (NASDAQ:IMCC)’s stock price rose 15.7% on Tuesday . The company traded as high as $0.2890 and last traded at $0.28. Approximately 557,183 shares were traded during trading, an increase of 95% from the average daily volume of 285,147 shares. The stock had previously closed at $0.2420.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of IM Cannabis in a research report on Friday, April 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

IM Cannabis Trading Up 15.7%

The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.74 million, a P/E ratio of -0.16 and a beta of 2.00. The firm has a 50-day moving average of $0.37 and a two-hundred day moving average of $0.97.

IM Cannabis (NASDAQ:IMCC) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.95). IM Cannabis had a negative return on equity of 585.96% and a negative net margin of 27.65%.The business had revenue of $11.25 million for the quarter, compared to the consensus estimate of $15.66 million.

Institutional Trading of IM Cannabis

A hedge fund recently bought a new stake in IM Cannabis stock. DRW Securities LLC bought a new stake in IM Cannabis Corp. (NASDAQ:IMCC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 23,060 shares of the company’s stock, valued at approximately $32,000. DRW Securities LLC owned about 0.39% of IM Cannabis at the end of the most recent quarter. Hedge funds and other institutional investors own 7.68% of the company’s stock.

About IM Cannabis

IM Cannabis Corp is a vertically integrated medical cannabis company based in Israel, specializing in the research, cultivation and production of cannabis-based formulations. The company holds three key licenses granted by the Israeli Ministry of Health, covering cultivation, possession and distribution of medical-grade cannabis. Its production facilities in Moshav Yizrael feature controlled-environment agriculture chambers designed to deliver consistent, high-purity cannabinoid profiles.

The company’s product portfolio includes standardized cannabis oils, distillates, vaporizer cartridges and topical preparations, all formulated under Good Manufacturing Practice (GMP) standards.