IceCure Medical Ltd. (NASDAQ:ICCM) Short Interest Up 52.1% in August

Key Points

• Short interest in IceCure Medical Ltd. (NASDAQ:ICCM) increased by 52.1% in August, reaching a total of 1,150,000 shares sold short by the end of the month.
• The stock price for ICCM rose to $1.08 following the trading day, with an average volume of 1,882,554 shares traded.
• Brokerages have mixed outlooks on IceCure Medical, with some maintaining a "buy" rating and others downgrading to "hold" or "sell", while the consensus target price is set at $2.39.

IceCure Medical Ltd. (NASDAQ:ICCM - Get Free Report) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 1,150,000 shares, an increase of 52.1% from the August 15th total of 756,100 shares. Approximately 3.4% of the company's stock are sold short. Based on an average daily trading volume, of 1,580,000 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 1,580,000 shares, the days-to-cover ratio is currently 0.7 days. Approximately 3.4% of the company's stock are sold short.

IceCure Medical Stock Down 1.0%

Shares of IceCure Medical stock traded down $0.01 on Friday, reaching $1.03. 516,645 shares of the company were exchanged, compared to its average volume of 815,440. IceCure Medical has a 1-year low of $0.48 and a 1-year high of $1.66. The company has a market cap of $70.76 million, a P/E ratio of -6.41 and a beta of 0.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 0.88. The stock's 50 day moving average price is $0.98 and its 200-day moving average price is $1.07.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. HC Wainwright decreased their price objective on shares of IceCure Medical from $2.50 to $2.00 and set a "buy" rating for the company in a research report on Friday, August 15th. Wall Street Zen lowered shares of IceCure Medical from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Brookline Capital Management reaffirmed a "buy" rating on shares of IceCure Medical in a research note on Wednesday, August 13th. Loop Capital set a $2.77 price objective on shares of IceCure Medical in a research note on Wednesday, August 13th. Finally, Zacks Research cut shares of IceCure Medical from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $2.39.

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.