IceCure Medical Ltd (NASDAQ:ICCM) Sees Significant Drop in Short Interest

IceCure Medical Ltd (NASDAQ:ICCM) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 802,800 shares, a decline of 9.2% from the January 15th total of 883,900 shares. Based on an average daily volume of 607,200 shares, the days-to-cover ratio is presently 1.3 days. Currently, 3.3% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Alliance Global Partners raised IceCure Medical to a “strong-buy” rating in a report on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and issued a $2.50 price target on shares of IceCure Medical in a research note on Wednesday, November 27th.

IceCure Medical Stock Performance

Shares of ICCM stock opened at $1.53 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.67 and a quick ratio of 2.27. The stock has a market cap of $84.92 million, a PE ratio of -5.28 and a beta of 0.40. The stock has a 50-day moving average of $1.20 and a 200-day moving average of $0.85. IceCure Medical has a one year low of $0.48 and a one year high of $1.63.

IceCure Medical (NASDAQ:ICCM) last announced its quarterly earnings results on Tuesday, November 26th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). IceCure Medical had a negative net margin of 376.85% and a negative return on equity of 124.44%. As a group, sell-side analysts expect that IceCure Medical will post -0.28 earnings per share for the current year.

Institutional Trading of IceCure Medical

An institutional investor recently raised its position in IceCure Medical stock. Geode Capital Management LLC increased its holdings in shares of IceCure Medical Ltd (NASDAQ:ICCM) by 58.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,453 shares of the company’s stock after purchasing an additional 14,893 shares during the quarter. Geode Capital Management LLC owned 0.07% of IceCure Medical worth $44,000 as of its most recent filing with the SEC. 0.62% of the stock is owned by institutional investors.

IceCure Medical Company Profile

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and marketing of cryoablation systems, disposables, and technologies for treating tumors. The company offers ProSense system, a single probe system for the treatment of tumors, as well as associated disposables; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.