Zacks Investment Research lowered shares of IM Cannabis (NASDAQ:IMCC – Get Rating) from a hold rating to a sell rating in a research report report published on Thursday morning, Zacks.com reports.
According to Zacks, “IM Cannabis Corp. is an MCO in the medical and adult-use recreational cannabis sector. It operates principally in Israel, Germany and Canada. IM Cannabis Corp. is headquartered in Israel. “
Shares of IM Cannabis stock opened at $1.08 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 1.47. IM Cannabis has a 52-week low of $0.84 and a 52-week high of $6.35. The stock’s 50-day simple moving average is $1.62 and its 200 day simple moving average is $2.40.
IM Cannabis (NASDAQ:IMCC – Get Rating) last issued its earnings results on Thursday, March 31st. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.12). IM Cannabis had a negative return on equity of 16.28% and a negative net margin of 44.71%. The firm had revenue of $15.96 million during the quarter. On average, sell-side analysts predict that IM Cannabis will post 0.02 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Gofen & Glossberg LLC IL boosted its stake in shares of IM Cannabis by 100.0% in the first quarter. Gofen & Glossberg LLC IL now owns 20,000 shares of the company’s stock worth $43,000 after buying an additional 10,000 shares during the last quarter. Jane Street Group LLC boosted its position in shares of IM Cannabis by 130.5% during the third quarter. Jane Street Group LLC now owns 36,461 shares of the company’s stock worth $129,000 after buying an additional 20,641 shares during the period. Millennium Management LLC purchased a new position in shares of IM Cannabis during the second quarter worth $182,000. Cowen AND Company LLC acquired a new stake in shares of IM Cannabis in the third quarter valued at $222,000. Finally, Baader Bank INC raised its stake in IM Cannabis by 27.7% in the first quarter. Baader Bank INC now owns 235,000 shares of the company’s stock valued at $503,000 after buying an additional 50,904 shares in the last quarter. Institutional investors own 18.43% of the company’s stock.
About IM Cannabis (Get Rating)
IM Cannabis Corp. engages in breeding, growing, and supply of medical cannabis products in Israel, Germany, and Canada. It offers cannabis flowers and strain specific cannabis extracts under the IMC brand; and dried flower, pre-rolls, and pressed hash offerings under the WAGNERS and Highland Grow brands.
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