NioCorp Developments Ltd. (NASDAQ:NB) Short Interest Update

NioCorp Developments Ltd. (NASDAQ:NB) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 943,800 shares, a growth of 24.6% from the January 31st total of 757,700 shares. Based on an average trading volume of 241,000 shares, the days-to-cover ratio is currently 3.9 days. Approximately 2.4% of the shares of the company are short sold.

Hedge Funds Weigh In On NioCorp Developments

A number of large investors have recently added to or reduced their stakes in NB. Virtu Financial LLC purchased a new stake in NioCorp Developments during the 3rd quarter worth approximately $29,000. Jane Street Group LLC acquired a new stake in shares of NioCorp Developments in the fourth quarter valued at about $359,000. Finally, Northern Trust Corp acquired a new position in NioCorp Developments during the fourth quarter worth about $980,000. 4.03% of the stock is currently owned by institutional investors and hedge funds.

NioCorp Developments Price Performance

NASDAQ NB traded down $0.06 during trading hours on Thursday, reaching $2.21. The company’s stock had a trading volume of 944,423 shares, compared to its average volume of 156,640. The firm has a market capitalization of $103.47 million, a price-to-earnings ratio of -2.87 and a beta of -0.31. The company’s 50-day moving average is $1.95 and its two-hundred day moving average is $1.77. NioCorp Developments has a 1-year low of $1.27 and a 1-year high of $4.00.

NioCorp Developments (NASDAQ:NB) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. Equities analysts forecast that NioCorp Developments will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NB shares. HC Wainwright dropped their price objective on shares of NioCorp Developments from $8.50 to $3.25 and set a “buy” rating on the stock in a research note on Monday, January 13th. Maxim Group began coverage on shares of NioCorp Developments in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price target on the stock.

About NioCorp Developments

NioCorp Developments Ltd. engages in the exploration and development of mineral deposits in North America. It owns and develops the Elk Creek niobium/scandium/titanium project that owns one 226.43-acre parcel of land and associated mineral rights, and an additional 40 acres of mineral rights, as well as an optioned land package that covers an area of 1,396 acres located in Johnson County, southeast Nebraska.