IM Cannabis (NASDAQ:IMCC) Shares Down 4.4%

IM Cannabis Corp. (NASDAQ:IMCC) shares traded down 4.4% during trading on Tuesday . The stock traded as low as $2.23 and last traded at $2.28. 10,149 shares were traded during trading, a decline of 91% from the average session volume of 108,357 shares. The stock had previously closed at $2.38.

IM Cannabis Trading Down 4.4 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.69 and a quick ratio of 0.52. The stock has a 50-day moving average price of $2.59 and a two-hundred day moving average price of $3.12. The stock has a market cap of $5.08 million, a PE ratio of -0.47 and a beta of 0.43.

IM Cannabis (NASDAQ:IMCC) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.67. IM Cannabis had a negative return on equity of 97.26% and a negative net margin of 26.46%. The business had revenue of $10.78 million for the quarter, compared to analysts’ expectations of $9.62 million. Sell-side analysts forecast that IM Cannabis Corp. will post -5.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IM Cannabis

A hedge fund recently raised its stake in IM Cannabis stock. AdvisorShares Investments LLC boosted its stake in shares of IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% during the 2nd quarter, according to its most recent disclosure 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 about 27.80% of IM Cannabis worth $278,000 as of its most recent SEC filing. 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.