IceCure Medical Ltd. (NASDAQ:ICCM) Short Interest Update

Key Points

• Short interest in IceCure Medical Ltd. increased by 393.9% in July, reaching a total of 1,770,000 shares, which is approximately 5.1% of the company's stock.
• Several analysts have updated their ratings on IceCure Medical, with Loop Capital setting a target price of $2.77 and Wall Street Zen downgrading the stock from a "hold" to a "sell" rating.
• The company reported a net margin of -317.62% for the last quarter, with earnings per share of $0.06, surpassing expectations of a loss.

IceCure Medical Ltd. (NASDAQ:ICCM - Get Free Report) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 1,770,000 shares, agrowthof393.9% from the July 15th total of 358,400 shares. Currently,5.1% of the company's stock are sold short. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 1.7 days. Currently,5.1% of the company's stock are sold short.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ICCM shares. Loop Capital set a $2.77 target price on shares of IceCure Medical in a research report on Wednesday. Brookline Capital Management reissued a "buy" rating on shares of IceCure Medical in a research report on Wednesday. Wall Street Zen downgraded shares of IceCure Medical from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, HC Wainwright restated a "buy" rating and set a $2.00 price objective (down previously from $2.50) on shares of IceCure Medical in a report on Friday.

Hedge Funds Weigh In On IceCure Medical

A hedge fund recently raised its stake in IceCure Medical stock. XTX Topco Ltd boosted its holdings in IceCure Medical Ltd. (NASDAQ:ICCM - Free Report) by 123.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,866 shares of the company's stock after buying an additional 32,555 shares during the period. XTX Topco Ltd owned approximately 0.11% of IceCure Medical worth $65,000 as of its most recent SEC filing. 0.62% of the stock is owned by hedge funds and other institutional investors.

IceCure Medical Price Performance

NASDAQ ICCM traded up $0.06 on Friday, reaching $0.90. The company's stock had a trading volume of 728,141 shares, compared to its average volume of 638,268. The firm has a market cap of $52.83 million, a PE ratio of -5.63 and a beta of 0.32. The business has a 50-day moving average price of $0.98 and a 200 day moving average price of $1.13. IceCure Medical has a 52 week low of $0.48 and a 52 week high of $1.66. The company has a current ratio of 1.89, a quick ratio of 1.48 and a debt-to-equity ratio of 0.02.

IceCure Medical (NASDAQ:ICCM - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.12. The business had revenue of $0.66 million for the quarter, compared to analysts' expectations of $0.90 million. IceCure Medical had a negative net margin of 317.62% and a negative return on equity of 115.66%. Sell-side analysts expect that IceCure Medical will post -0.28 EPS for the current year.

About IceCure Medical

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.