IM Cannabis Corp (NASDAQ:IMCC) price closed lower on Friday, May 03, dropping -2.23% below its previous close.
A look at the daily price movement shows that the last close reads $0.91. Taking into account the 52-week price action we note that the stock hit a 52-week high of $1.43 and 52-week low of $0.19. The stock subtracted -17.62% on its value in the past month.
On average, analysts have forecast the company’s revenue for the quarter will hit 10.6M, with the likely lows of 10.6M and highs of 10.6M. The average estimate suggests sales growth for the quarter will likely fall by -19.50% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of 46.3M for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow -5.10% below that which the company brought in the current year earning report.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give IMCC a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as 50% Buy.
The overview shows that IMCC’s price is at present 29.03% off the SMA20 and 69.09% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 60.14, with weekly volatility standing at 36.94%. The indicator jumps to 24.81% when calculated based on the past 30 days. IM Cannabis Corp (NASDAQ:IMCC)’s beta value is holding at 1.07, while the average true range (ATR) indicator is currently reading 0.18.
An analysis of the IM Cannabis Corp (NASDAQ:IMCC) stock in terms of its daily trading volume indicates that the 3-month average is 1.48 million.
Current records show that the company has 13.39M in outstanding shares. The insiders’ percentage holdings are 30.19% of outstanding shares while the percentage share held by institutions stands at 4.63%. But the 149.22% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
