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

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

IM Cannabis Stock Performance

Shares of IM Cannabis stock opened at $2.43 on Friday. The company has a fifty day moving average of $2.47 and a 200-day moving average of $2.60. IM Cannabis has a 52-week low of $1.13 and a 52-week high of $8.10. The company has a quick ratio of 0.59, a current ratio of 0.70 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IM Cannabis stock. AdvisorShares Investments LLC increased its stake in shares of IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 27.80% of IM Cannabis worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 7.68% of the stock is currently owned by institutional investors.

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.