IceCure Medical Ltd (NASDAQ:ICCM) Sees Significant Increase in Short Interest

IceCure Medical Ltd (NASDAQ:ICCM) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 614,500 shares, a growth of 203.5% from the July 31st total of 202,500 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 511,700 shares, the days-to-cover ratio is presently 1.2 days.

IceCure Medical Trading Down 5.4 %

ICCM traded down $0.04 on Wednesday, reaching $0.65. 400,601 shares of the company’s stock were exchanged, compared to its average volume of 542,438. IceCure Medical has a twelve month low of $0.52 and a twelve month high of $1.57. The company’s 50 day moving average is $0.71 and its 200-day moving average is $1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.88 and a current ratio of 3.39. The company has a market cap of $29.77 million, a price-to-earnings ratio of -1.98 and a beta of 0.57.

IceCure Medical (NASDAQ:ICCM) last posted its earnings results on Tuesday, August 20th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $1.01 million during the quarter, compared to analyst estimates of $0.90 million. IceCure Medical had a negative return on equity of 101.66% and a negative net margin of 444.30%. During the same quarter last year, the firm earned ($0.09) earnings per share. Equities analysts predict that IceCure Medical will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reduced their price target on shares of IceCure Medical from $3.00 to $2.50 and set a “buy” rating for the company in a research report on Wednesday, August 21st.

Hedge Funds Weigh In On IceCure Medical

A hedge fund recently bought a new stake in IceCure Medical stock. Renaissance Technologies LLC acquired a new stake in shares of IceCure Medical Ltd (NASDAQ:ICCM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 66,400 shares of the company’s stock, valued at approximately $49,000. Renaissance Technologies LLC owned about 0.15% of IceCure Medical as of its most recent SEC filing. Hedge funds and other institutional investors own 0.62% of the company’s stock.

IceCure Medical Company Profile

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and commercialization of medical devices for cryoablation (freezing) of tumors in the human body. It offers ProSense system, a single probe system for the treatment of breast tumors; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.