IM Cannabis Corp (NASDAQ: IMCC)’s stock price has gone rise by 19.15 in comparison to its previous close of 2.35, however, the company has experienced a 52.59% increase in its stock price over the last five trading days. prnewswire.com reported 2024-11-06 that TORONTO and GLIL YAM, Israel, Nov. 6, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company”, “IMCannabis”, or “IMC”), a leading medical cannabis company with operations in Israel and Germany, will report operational and financial results for the third 2024 ended September 30, 2024, on November 14, 2024, before the market opens. The Company will host a zoom web conference on the same day at 9:00am ET to discuss the results, followed by a question-and-answer session for the investment community.
Is It Worth Investing in IM Cannabis Corp (NASDAQ: IMCC) Right Now?
The stock has a 36-month beta value of 0.95. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 0 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for IMCC is 1.56M, and at present, short sellers hold a 0.26% of that float. On November 14, 2024, the average trading volume of IMCC was 16.18K shares.
IMCC’s Market Performance
IMCC’s stock has seen a 52.59% increase for the week, with a 30.71% rise in the past month and a -9.68% fall in the past quarter. The volatility ratio for the week is 16.85%, and the volatility levels for the past 30 days are at 8.91% for IM Cannabis Corp The simple moving average for the past 20 days is 32.66% for IMCC’s stock, with a 1.32% 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 27.72% 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 -65.43% of loss for the given period.
Volatility was left at 8.91%, however, over the last 30 days, the volatility rate increased by 16.85%, as shares surge +34.62% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +19.15% upper at present.
During the last 5 trading sessions, IMCC rose by +52.59%, which changed the moving average for the period of 200-days by +63.40% in comparison to the 20-day moving average, which settled at $2.11. In addition, IM Cannabis Corp saw 30.72% 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:
- -0.21 for the present operating margin
- 0.16 for the gross margin
The net margin for IM Cannabis Corp stands at -0.24. The total capital return value is set at -2.28. Equity return is now at value -99.20, with -29.09 for asset returns.
Based on IM Cannabis Corp (IMCC), the company’s capital structure generated 0.68 points at debt to capital in total, while cash flow to debt ratio is standing at 0.19. The debt to equity ratio resting at 2.14. The interest coverage ratio of the stock is -8.07.
Currently, EBITDA for the company is -2.79 million with net debt to EBITDA at -0.91. When we switch over and look at the enterprise to sales, we see a ratio of 0.31. The receivables turnover for the company is 6.26for trailing twelve months and the total asset turnover is 1.88. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.69.
Conclusion
To sum up, IM Cannabis Corp (IMCC) has seen a better performance recently. Analysts have differing views on the stock, with some seeing 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.
