IceCure Medical Ltd (NASDAQ:ICCM) Sees Large Drop in Short Interest

IceCure Medical Ltd (NASDAQ:ICCM) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 802,800 shares, a decline of 9.2% from the January 15th total of 883,900 shares. Approximately 3.3% of the shares of the stock are sold short. Based on an average daily volume of 607,200 shares, the short-interest ratio is presently 1.3 days.

Hedge Funds Weigh In On IceCure Medical

An institutional investor recently raised its position in IceCure Medical stock. Geode Capital Management LLC grew its holdings in shares of IceCure Medical Ltd (NASDAQ:ICCM) by 58.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,453 shares of the company’s stock after purchasing an additional 14,893 shares during the quarter. Geode Capital Management LLC owned about 0.07% of IceCure Medical worth $44,000 as of its most recent filing with the Securities and Exchange Commission. 0.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ICCM has been the subject of several analyst reports. 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 price objective on shares of IceCure Medical in a research report on Wednesday, November 27th.

IceCure Medical Price Performance

IceCure Medical stock opened at $1.36 on Tuesday. The firm has a 50 day simple moving average of $1.19 and a 200-day simple moving average of $0.84. The company has a current ratio of 2.67, a quick ratio of 2.27 and a debt-to-equity ratio of 0.02. IceCure Medical has a 12-month low of $0.48 and a 12-month high of $1.45.

IceCure Medical (NASDAQ:ICCM) last posted its quarterly earnings data on Tuesday, November 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). IceCure Medical had a negative net margin of 376.85% and a negative return on equity of 124.44%. Equities analysts anticipate that IceCure Medical will post -0.28 earnings per share 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.