Nickel Industries Limited (OTCMKTS:NICMF) Sees Significant Decline in Short Interest

Nickel Industries Limited (OTCMKTS:NICMF) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totaling 211,702 shares, a decline of 69.9% from the April 15th total of 703,646 shares. Based on an average trading volume of 1,269 shares, the days-to-cover ratio is presently 166.8 days.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “buy” rating on shares of Nickel Industries in a report on Monday, February 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Nickel Industries has a consensus rating of “Buy”.

Nickel Industries Price Performance

Shares of OTCMKTS:NICMF remained flat at $0.75 on Thursday. The company has a fifty day simple moving average of $0.67 and a two-hundred day simple moving average of $0.60. Nickel Industries has a 1-year low of $0.40 and a 1-year high of $0.80.

Nickel Industries Company Profile

Nickel Industries Limited is an Australia-based resources company focused on the development, construction and operation of battery-grade nickel processing assets in Indonesia. The company’s core business centers on the production of mixed hydroxide precipitate (MHP), a precursor material used in the manufacture of lithium-ion batteries for electric vehicles and energy storage systems.

The company owns and operates two high-pressure acid leach (HPAL) plants in Southeast Sulawesi. Its flagship Hengjaya Nickel project and the Ranger Nickel facility leverage Indonesia’s rich laterite nickel deposits to produce MHP for customers in Asia, Europe and North America.