IceCure Medical Ltd. (NASDAQ:ICCM) Short Interest Down 57.3% in August

Key Points

• IceCure Medical Ltd. (NASDAQ:ICCM) experienced a significant drop in short interest, decreasing by 57.3% from 1,770,000 shares to 756,100 shares as of August 15th.
• Despite recent mixed analyst ratings, the stock has a consensus rating of "Buy" with an average price target of $2.39.
• IceCure Medical reported $0.06 earnings per share for the last quarter, surpassing expectations, but had a negative net margin of 317.62% and revenue of $0.66 million, below the estimated $0.90 million.

IceCure Medical Ltd. (NASDAQ:ICCM - Get Free Report) saw a significant drop in short interest in August. As of August 15th, there was short interest totaling 756,100 shares, adropof57.3% from the July 31st total of 1,770,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the short-interest ratio is presently 0.7 days. Approximately1.9% of the shares of the stock are short sold. Approximately1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,140,000 shares, the short-interest ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ICCM. HC Wainwright dropped their target price on shares of IceCure Medical from $2.50 to $2.00 and set a "buy" rating for the company in a report on Friday, August 15th. Wall Street Zen cut shares of IceCure Medical from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Loop Capital set a $2.77 target price on shares of IceCure Medical in a report on Wednesday, August 13th. Zacks Research cut shares of IceCure Medical from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, Brookline Capital Management reaffirmed a "buy" rating on shares of IceCure Medical in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $2.39.

IceCure Medical Price Performance

Shares of ICCM traded up $0.02 during mid-day trading on Monday, reaching $1.05. 682,525 shares of the company's stock were exchanged, compared to its average volume of 786,691. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.02. The company has a 50-day simple moving average of $0.99 and a two-hundred day simple moving average of $1.09. IceCure Medical has a 52-week low of $0.48 and a 52-week high of $1.66. The company has a market cap of $61.63 million, a price-to-earnings ratio of -6.56 and a beta of 0.33.

IceCure Medical (NASDAQ:ICCM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.12. IceCure Medical had a negative net margin of 317.62% and a negative return on equity of 136.96%. The business had revenue of $0.66 million during the quarter, compared to analysts' expectations of $0.90 million. On average, sell-side analysts predict that IceCure Medical will post -0.28 EPS for the current fiscal year.

IceCure Medical Company Profile

IceCure Medical Ltd, a commercial stage medical device company, engages in the research, development, and marketing of cryoablation systems, disposables, and technologies for treating tumors. The company offers ProSense system, a single probe system for the treatment of tumors, as well as associated disposables; and IceSense3 system for ablation indications to urology, oncology, dermatology, gynecology, general surgery, thoracic surgery, and proctology.