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

NioCorp Developments Ltd. (NASDAQ:NB) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 757,700 shares, an increase of 106.0% from the January 15th total of 367,900 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 233,700 shares, the short-interest ratio is presently 3.2 days.

Institutional Trading of NioCorp Developments

A hedge fund recently bought a new stake in NioCorp Developments stock. Virtu Financial LLC purchased a new stake in shares of NioCorp Developments Ltd. (NASDAQ:NB) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,317 shares of the company’s stock, valued at approximately $29,000. 4.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NB has been the topic of a number of research reports. HC Wainwright dropped their target price on NioCorp Developments from $8.50 to $3.25 and set a “buy” rating on the stock in a report on Monday, January 13th. Maxim Group assumed coverage on shares of NioCorp Developments in a report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price target on the stock.

NioCorp Developments Stock Down 2.8 %

Shares of NB traded down $0.07 during midday trading on Thursday, reaching $2.45. 176,688 shares of the stock were exchanged, compared to its average volume of 316,424. The company has a market cap of $114.15 million, a price-to-earnings ratio of -2.88 and a beta of -0.36. NioCorp Developments has a 12-month low of $1.27 and a 12-month high of $4.00. The firm has a 50 day simple moving average of $1.75 and a 200-day simple moving average of $1.73.

NioCorp Developments (NASDAQ:NB) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. Research analysts expect that NioCorp Developments will post -0.34 earnings per share for the current fiscal year.

NioCorp Developments Company Profile

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.