Equities Analysts Issue Forecasts for IM Cannabis Corp.’s Q3 2024 Earnings (NASDAQ:IMCC)

IM Cannabis Corp. (NASDAQ:IMCC) – Equities research analysts at Roth Capital reduced their Q3 2024 earnings per share estimates for IM Cannabis in a research report issued on Thursday, August 15th. Roth Capital analyst S. Fortune now expects that the company will post earnings per share of ($1.36) for the quarter, down from their prior estimate of ($0.90). The consensus estimate for IM Cannabis’ current full-year earnings is ($4.32) per share. Roth Capital also issued estimates for IM Cannabis’ Q4 2024 earnings at ($1.15) EPS, FY2024 earnings at ($5.61) EPS, Q1 2025 earnings at ($0.93) EPS, Q2 2025 earnings at ($0.68) EPS, Q3 2025 earnings at ($0.41) EPS, Q4 2025 earnings at ($0.31) EPS and FY2025 earnings at ($2.33) EPS.

IM Cannabis Stock Performance

Shares of IMCC opened at $2.77 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $6.19 million, a price-to-earnings ratio of -0.58 and a beta of 0.47. The stock has a 50 day moving average of $2.70 and a 200 day moving average of $3.00. IM Cannabis has a 12 month low of $1.13 and a 12 month high of $8.10.

Institutional Trading of IM Cannabis

A hedge fund recently raised its stake in IM Cannabis stock. AdvisorShares Investments LLC lifted its holdings in shares of IM Cannabis Corp. (NASDAQ:IMCC) by 39.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 620,762 shares of the company’s stock after acquiring an additional 174,086 shares during the quarter. AdvisorShares Investments LLC owned 27.80% of IM Cannabis worth $278,000 at the end of the most recent quarter. 7.68% of the stock is currently owned by hedge funds and other 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.