Short Interest in IceCure Medical Ltd (NASDAQ:ICCM) Increases By 718.6%

IceCure Medical Ltd (NASDAQ:ICCM) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 2,310,000 shares, a growth of 718.6% from the October 31st total of 282,200 shares. Currently, 10.5% of the shares of the stock are short sold. Based on an average trading volume of 677,400 shares, the days-to-cover ratio is currently 3.4 days.

IceCure Medical Stock Performance

Shares of ICCM opened at $0.83 on Thursday. The company has a 50-day moving average of $0.64 and a two-hundred day moving average of $0.73. The stock has a market cap of $37.96 million, a P/E ratio of -2.77 and a beta of 0.48. IceCure Medical has a 12-month low of $0.48 and a 12-month high of $1.57. The company has a current ratio of 2.97, a quick ratio of 2.54 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in IceCure Medical stock. Renaissance Technologies LLC purchased a new position in shares of IceCure Medical Ltd (NASDAQ:ICCM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 66,400 shares of the company’s stock, valued at approximately $49,000. Renaissance Technologies LLC owned approximately 0.15% of IceCure Medical as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ICCM shares. Alliance Global Partners upgraded IceCure Medical to a “strong-buy” rating in a report on Friday, November 1st. HC Wainwright reissued a “buy” rating and issued a $2.50 target price on shares of IceCure Medical in a report on Wednesday.

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.