InterCure Ltd. (NASDAQ:INCR) Sees Significant Drop in Short Interest

by · The Cerbat Gem

InterCure Ltd. (NASDAQ:INCR – Get Free Report) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 17,800 shares, a drop of 12.7% from the September 30th total of 20,400 shares. Based on an average daily volume of 24,800 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Investors Weigh In On InterCure

A number of institutional investors and hedge funds have recently made changes to their positions in INCR. Renaissance Technologies LLC boosted its stake in InterCure by 30.9% during the 2nd quarter. Renaissance Technologies LLC now owns 45,300 shares of the company’s stock valued at $91,000 after purchasing an additional 10,700 shares during the last quarter. AdvisorShares Investments LLC purchased a new position in shares of InterCure during the second quarter valued at approximately $218,000. Finally, Tidal Investments LLC bought a new stake in InterCure during the first quarter worth $883,000. Institutional investors and hedge funds own 8.34% of the company’s stock.

InterCure Stock Up 0.6 %

INCR stock traded up $0.01 during midday trading on Tuesday, reaching $1.74. 22,442 shares of the company’s stock traded hands, compared to its average volume of 53,892. InterCure has a 52 week low of $0.99 and a 52 week high of $3.72. The company has a market cap of $79.30 million, a price-to-earnings ratio of 13.31 and a beta of 1.50. The firm’s fifty day moving average price is $1.92 and its 200-day moving average price is $2.31. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.15.

About InterCure

(Get Free Report)

InterCure Ltd., together with its subsidiaries, engages in the research, cultivation, production, and distribution of pharmaceutical-grade cannabis and cannabis-based products for medical use in Israel and internationally. The company offers dried cannabis inflorescences and cannabis extract mixed with oil.

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