IM Cannabis (NASDAQ:IMCC) Trading Down 4.4%

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

IM Cannabis Stock Down 4.4 %

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.52 and a current ratio of 0.69. The company’s fifty day moving average price is $2.59 and its 200-day moving average price is $3.12. The stock has a market cap of $5.08 million, a P/E ratio of -0.47 and a beta of 0.43.

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

Institutional Investors Weigh In On IM Cannabis

An institutional investor recently raised its position in IM Cannabis stock. AdvisorShares Investments LLC grew its holdings in IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 620,762 shares of the company’s stock after purchasing 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 filing with the Securities & Exchange Commission. 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.