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

IM Cannabis Corp. (NASDAQ:IMCC) was the recipient of a large 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 company’s shares are sold short. Based on an average daily trading volume, of 17,400 shares, the short-interest ratio is presently 1.0 days.

IM Cannabis Price Performance

IMCC stock opened at $3.69 on Thursday. IM Cannabis has a one year low of $1.13 and a one year high of $8.10. The firm has a 50-day moving average of $2.27 and a two-hundred day moving average of $2.66. The company has a current ratio of 0.70, a quick ratio of 0.59 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.23 million, a PE ratio of -1.09 and a beta of 0.45.

Institutional Investors Weigh In On IM Cannabis

An institutional investor recently raised its position in IM Cannabis stock. AdvisorShares Investments LLC raised its stake in IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. 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 27.80% of IM Cannabis worth $278,000 at the end of the most recent reporting period. 7.68% of the stock is owned by hedge funds and other 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.