Short Interest in IceCure Medical Ltd (NASDAQ:ICCM) Declines By 9.2%

IceCure Medical Ltd (NASDAQ:ICCM) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 393,100 shares, a drop of 9.2% from the August 31st total of 432,900 shares. Based on an average trading volume of 542,000 shares, the days-to-cover ratio is currently 0.7 days. Approximately 1.7% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $2.50 price objective on shares of IceCure Medical in a research report on Thursday, September 12th.

IceCure Medical Stock Performance

Shares of ICCM stock traded up $0.01 during mid-day trading on Friday, reaching $0.62. The stock had a trading volume of 414,544 shares, compared to its average volume of 518,096. IceCure Medical has a one year low of $0.54 and a one year high of $1.57. The company has a quick ratio of 2.54, a current ratio of 2.97 and a debt-to-equity ratio of 0.03. The firm’s 50 day simple moving average is $0.66 and its 200 day simple moving average is $0.90. The firm has a market cap of $28.51 million, a PE ratio of -1.89 and a beta of 0.56.

IceCure Medical (NASDAQ:ICCM) last issued its earnings results on Tuesday, August 20th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. IceCure Medical had a negative return on equity of 111.27% and a negative net margin of 410.22%. The business had revenue of $1.01 million during the quarter, compared to analysts’ expectations of $0.90 million. During the same period in the prior year, the firm posted ($0.09) EPS. On average, analysts forecast that IceCure Medical will post -0.27 EPS for the current year.

Hedge Funds Weigh In On IceCure Medical

An institutional investor recently bought a new position in IceCure Medical stock. Renaissance Technologies LLC bought a new position in IceCure Medical Ltd (NASDAQ:ICCM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 66,400 shares of the company’s stock, valued at approximately $49,000. Renaissance Technologies LLC owned approximately 0.15% of IceCure Medical at the end of the most recent quarter. 0.62% of the stock is currently owned by institutional investors and hedge funds.

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.