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

IceCure Medical Ltd (NASDAQ:ICCM) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 285,500 shares, a decrease of 52.3% from the February 28th total of 598,100 shares. Based on an average trading volume of 378,700 shares, the days-to-cover ratio is presently 0.8 days. Approximately 1.0% of the company’s shares are short sold.

Hedge Funds Weigh In On IceCure Medical

A hedge fund recently raised its stake in IceCure Medical stock. Geode Capital Management LLC increased its position in shares of IceCure Medical Ltd (NASDAQ:ICCM) by 58.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,453 shares of the company’s stock after buying an additional 14,893 shares during the quarter. Geode Capital Management LLC owned about 0.07% of IceCure Medical worth $44,000 at the end of the most recent quarter. 0.62% of the stock is currently owned by hedge funds and other institutional investors.

IceCure Medical Trading Up 0.5 %

ICCM traded up $0.01 during trading on Friday, hitting $1.11. The company’s stock had a trading volume of 221,593 shares, compared to its average volume of 521,961. The firm has a market capitalization of $61.61 million, a P/E ratio of -3.83 and a beta of 0.37. IceCure Medical has a twelve month low of $0.48 and a twelve month high of $1.66. The stock’s fifty day moving average price is $1.32 and its 200-day moving average price is $0.99. The company has a quick ratio of 2.27, a current ratio of 2.67 and a debt-to-equity ratio of 0.02.

IceCure Medical (NASDAQ:ICCM) last released its earnings results on Thursday, March 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $1.07 million for the quarter, compared to analyst estimates of $1.07 million. IceCure Medical had a negative net margin of 376.85% and a negative return on equity of 124.44%. Analysts anticipate that IceCure Medical will post -0.28 EPS for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $2.50 price objective on shares of IceCure Medical in a research report on Friday.

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.