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

NioCorp Developments Ltd. (NASDAQ:NB) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,020,000 shares, an increase of 36.7% from the February 28th total of 746,300 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average trading volume of 285,800 shares, the days-to-cover ratio is currently 3.6 days.

NioCorp Developments Price Performance

NB opened at $2.04 on Wednesday. NioCorp Developments has a 1-year low of $1.27 and a 1-year high of $4.00. The company has a market capitalization of $95.51 million, a price-to-earnings ratio of -2.65 and a beta of -0.32. The business has a 50 day moving average price of $2.12 and a two-hundred day moving average price of $1.79.

NioCorp Developments (NASDAQ:NB) last announced its earnings results 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. Equities analysts expect that NioCorp Developments will post -0.34 EPS for the current fiscal year.

Institutional Trading of NioCorp Developments

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp bought a new stake in NioCorp Developments during the fourth quarter worth approximately $980,000. Jane Street Group LLC acquired a new stake in shares of NioCorp Developments during the 4th quarter valued at $359,000. Finally, Virtu Financial LLC boosted its stake in shares of NioCorp Developments by 158.0% during the 4th quarter. Virtu Financial LLC now owns 34,355 shares of the company’s stock worth $53,000 after acquiring an additional 21,038 shares in the last quarter. 4.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NB has been the topic of a number of research reports. Maxim Group began coverage on NioCorp Developments in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price target on the stock. 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 research report on Monday, January 13th.

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.