Short Interest in ImmuCell Corporation (NASDAQ:ICCC) Grows By 25.3%

Key Points

• Short interest in ImmuCell rose by 25.3% in March to 34,248 shares (about 0.4% of shares), with a days-to-cover of 2.4 based on average daily volume.
• Weiss Ratings downgraded ImmuCell to a Sell, and the stock carries a MarketBeat consensus rating of Sell from analysts.
• Shares traded around $7.57 with a market capitalization of $68.46 million and a 52-week range of $4.52–$7.82, while the company currently posts a negative P/E, indicating it is unprofitable.

ImmuCell Corporation (NASDAQ:ICCC - Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 34,248 shares, an increase of 25.3% from the March 15th total of 27,331 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 14,114 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered ImmuCell from a "hold (c-)" rating to a "sell (d-)" rating in a report on Monday, April 6th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Sell".

Institutional Investors Weigh In On ImmuCell

Hedge funds have recently made changes to their positions in the business. Steadtrust LLC acquired a new stake in shares of ImmuCell during the third quarter worth about $198,000. Mesirow Financial Investment Management Inc. boosted its stake in shares of ImmuCell by 199.6% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 36,481 shares of the biotechnology company's stock worth $224,000 after buying an additional 24,303 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of ImmuCell by 4.2% during the second quarter. Geode Capital Management LLC now owns 71,852 shares of the biotechnology company's stock worth $500,000 after buying an additional 2,907 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

ImmuCell Stock Performance

Shares of ICCC traded down $0.04 during mid-day trading on Thursday, hitting $7.57. 12,313 shares of the company's stock were exchanged, compared to its average volume of 19,800. ImmuCell has a fifty-two week low of $4.52 and a fifty-two week high of $7.82. The firm has a market capitalization of $68.46 million, a P/E ratio of -68.77 and a beta of 0.30. The business's 50 day moving average is $6.53 and its two-hundred day moving average is $6.19. The company has a current ratio of 4.26, a quick ratio of 1.93 and a debt-to-equity ratio of 0.28.

About ImmuCell

ImmuCell Corporation NASDAQ: ICCC is a biotechnology company that develops, manufactures, and markets immunological products and diagnostic assays designed to enhance animal health in dairy and beef cattle. Headquartered in Portland, Maine, the company focuses on supporting herd health management through its portfolio of passive immunology solutions and veterinary diagnostics.

The company's flagship offering, CalfGuard natural colostrum supplement, is formulated to promote the passive transfer of antibodies in newborn calves and reduce the incidence of neonatal diseases.

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