The 36-month beta value for IMCC is also noteworthy at 1.07. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for IMCC is 9.35M, and at present, short sellers hold a 3.67% of that float. The average trading volume of IMCC on May 07, 2024 was 1.48M shares.
IMCC) stock’s latest price update
IM Cannabis Corp (NASDAQ: IMCC) has experienced a decline in its stock price by -9.52 compared to its previous closing price of 0.89. However, the company has seen a gain of 43.75% in its stock price over the last five trading days. InvestorPlace reported 2024-05-01 that IM Cannabis (NASDAQ: IMCC ) stock is rocketing higher on Wednesday following news that President Joe Biden’s Administration plans to reclassify marijuana. According to insider sources, the Biden Administration is planning to reclassify marijuana from a Schedule I drug to a Schedule III drug.
IMCC’s Market Performance
IM Cannabis Corp (IMCC) has experienced a 43.75% rise in stock performance for the past week, with a -6.40% drop in the past month, and a 232.64% rise in the past quarter. The volatility ratio for the week is 38.73%, and the volatility levels for the past 30 days are at 22.51% for IMCC. The simple moving average for the past 20 days is 16.50% for IMCC’s stock, with a 48.96% simple moving average for the past 200 days.
Analysts’ Opinion of IMCC
Many brokerage firms have already submitted their reports for IMCC stocks, with ROTH Capital repeating the rating for IMCC by listing it as a “Buy.” The predicted price for IMCC in the upcoming period, according to ROTH Capital is $8 based on the research report published on October 05, 2021 of the previous year 2021.
IMCC Trading at 49.81% from the 50-Day Moving Average
After a stumble in the market that brought IMCC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -43.71% of loss for the given period.
Volatility was left at 22.51%, however, over the last 30 days, the volatility rate increased by 38.73%, as shares sank -14.36% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +143.20% upper at present.
During the last 5 trading sessions, IMCC rose by +43.75%, which changed the moving average for the period of 200-days by -4.17% in comparison to the 20-day moving average, which settled at $0.6843. In addition, IM Cannabis Corp saw 125.49% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for IMCC
Current profitability levels for the company are sitting at:
- -0.18 for the present operating margin
- 0.22 for the gross margin
The net margin for IM Cannabis Corp stands at -0.18. The total capital return value is set at -0.84. Equity return is now at value -45.97, with -15.56 for asset returns.
Based on IM Cannabis Corp (IMCC), the company’s capital structure generated 0.47 points at debt to capital in total, while cash flow to debt ratio is standing at -0.74. The debt to equity ratio resting at 0.9. The interest coverage ratio of the stock is -4.62.
Currently, EBITDA for the company is -9.18 million with net debt to EBITDA at -1.35. When we switch over and look at the enterprise to sales, we see a ratio of 0.36. The receivables turnover for the company is 6.64for trailing twelve months and the total asset turnover is 1.54. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.74.
Conclusion
In summary, IM Cannabis Corp (IMCC) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
