IM Cannabis Corp (NASDAQ: IMCC) Have Jumped 172.89% YTD, What Will Happen Next

During the last session, IM Cannabis Corp (NASDAQ:IMCC)’s traded shares were 2.76 million, with the beta value of the company hitting 1.32. At the end of the trading day, the stock’s price was $0.97, reflecting an intraday gain of 28.79% or $0.21. The 52-week high for the IMCC share is $1.43, that puts it down -47.42 from that peak though still a striking 80.41% gain since the share price plummeted to a 52-week low of $0.19. The company’s market capitalization is $13.04M, and the average intraday trading volume over the past 10 days was 2.21 million shares, and the average trade volume was 507.65K shares over the past three months.

IM Cannabis Corp (NASDAQ:IMCC) trade information

IM Cannabis Corp (IMCC) registered a 28.79% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 28.79% in intraday trading to $0.97, hitting a weekly high. The stock’s 5-day price performance is 113.83%, and it has moved by 210.25% in 30 days. Based on these gigs, the overall price performance for the year is 36.06%. The short interest in IM Cannabis Corp (NASDAQ:IMCC) is 42090.0 shares and it means that shorts have 0.28 day(s) to cover.

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IM Cannabis Corp (IMCC) estimates and forecasts

Statistics show that IM Cannabis Corp has outperformed its competitors in share price, compared to the industry in which it operates. IM Cannabis Corp (IMCC) shares have gone up 43.26% during the last six months, with a year-to-date growth rate more than the industry average at 30.91% against 17.50. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -566.70% this quarter and then jump 53.80% in the quarter after that. In the rating firms’ projections, revenue will increase 9.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $11.8 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $12.75 million by the end of Jun 2024.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -7.89%. While earnings are projected to return 37.21% in 2024.

IMCC Dividends

IM Cannabis Corp is due to release its next quarterly earnings in May. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

IM Cannabis Corp (NASDAQ:IMCC)’s Major holders

IM Cannabis Corp insiders own 36.09% of total outstanding shares while institutional holders control 8.15%, with the float percentage being 12.75%. Lynwood Capital Management Inc. is the largest shareholder of the company, while 18 institutions own stock in it. As of Jun 29, 2023, the company held over 0.55 million shares (or 4.11% of all shares), a total value of $0.5 million in shares.

The next largest institutional holding, with 0.4 million shares, is of Black Maple Capital Management Lp’s that is approximately 3.02% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $0.37 million.

Also, the Mutual Funds coming in first place with the largest holdings of IM Cannabis Corp (IMCC) shares are AdvisorShares Trust-AdvisorShares Pure Cannabis ETF and Amplify Seymour Cannabis ETF. Data provided on Sep 29, 2023 indicates that AdvisorShares Trust-AdvisorShares Pure Cannabis ETF owns about 0.23 million shares. This amounts to just over 1.72 percent of the company’s overall shares, with a $0.17 million market value. The same data shows that the other fund manager holds slightly less at 9600.0, or about 0.07% of the stock, which is worth about $8284.0.