IM Cannabis (NASDAQ:IMCC) Stock Price Down 4.7% – What’s Next?

Shares of IM Cannabis Corp. (NASDAQ:IMCC) traded down 4.7% on Wednesday . The company traded as low as $2.00 and last traded at $2.01. 19,627 shares were traded during mid-day trading, a decline of 81% from the average session volume of 100,807 shares. The stock had previously closed at $2.11.

IM Cannabis Price Performance

The firm has a market capitalization of $4.49 million, a price-to-earnings ratio of -0.42 and a beta of 0.44. The stock’s 50-day moving average price is $2.41 and its 200 day moving average price is $3.00. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 0.07.

IM Cannabis (NASDAQ:IMCC) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.67. The business had revenue of $10.78 million during the quarter, compared to analyst estimates of $9.62 million. IM Cannabis had a negative return on equity of 97.26% and a negative net margin of 26.46%. Equities research analysts expect that IM Cannabis Corp. will post -5.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

IM Cannabis Company Profile

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.