IM Cannabis Corp. (NASDAQ:IMCC) Short Interest Up 483.3% in November

IM Cannabis Corp. (NASDAQ:IMCC) saw a significant increase in short interest in the month of 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 shares of the company are short sold. Based on an average trading volume of 17,400 shares, the short-interest ratio is presently 1.0 days.

Institutional Investors Weigh In On IM Cannabis

An institutional investor recently raised its position in IM Cannabis stock. AdvisorShares Investments LLC increased its position in IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 620,762 shares of the company’s stock after buying an additional 174,086 shares during the quarter. 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 and hedge funds.

IM Cannabis Stock Performance

Shares of IMCC stock opened at $3.69 on Thursday. 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 business has a 50 day moving average of $2.27 and a two-hundred day moving average of $2.66. IM Cannabis has a 52 week low of $1.13 and a 52 week high of $8.10. The company has a market cap of $8.23 million, a P/E ratio of -1.09 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.