Snow Lake Resources Ltd. (NASDAQ:LITM) Sees Significant Increase in Short Interest

Snow Lake Resources Ltd. (NASDAQ:LITM) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 7,120,000 shares, a growth of 377.9% from the March 15th total of 1,490,000 shares. Based on an average trading volume of 14,740,000 shares, the short-interest ratio is presently 0.5 days. Currently, 7.7% of the company’s shares are short sold.

Hedge Funds Weigh In On Snow Lake Resources

Institutional investors have recently made changes to their positions in the company. United Capital Management of KS Inc. bought a new position in Snow Lake Resources during the 4th quarter worth about $34,000. Renaissance Technologies LLC raised its holdings in shares of Snow Lake Resources by 284.8% in the 4th quarter. Renaissance Technologies LLC now owns 43,100 shares of the company’s stock valued at $41,000 after purchasing an additional 31,900 shares in the last quarter. Two Sigma Securities LLC lifted its position in shares of Snow Lake Resources by 81.7% in the 4th quarter. Two Sigma Securities LLC now owns 44,635 shares of the company’s stock worth $43,000 after purchasing an additional 20,069 shares during the period. Virtu Financial LLC boosted its stake in shares of Snow Lake Resources by 308.7% during the fourth quarter. Virtu Financial LLC now owns 66,576 shares of the company’s stock valued at $64,000 after purchasing an additional 50,285 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Snow Lake Resources during the fourth quarter valued at approximately $72,000. Hedge funds and other institutional investors own 0.24% of the company’s stock.

Snow Lake Resources Stock Performance

Snow Lake Resources stock traded up $0.02 during mid-day trading on Monday, hitting $0.49. The company’s stock had a trading volume of 3,908,072 shares, compared to its average volume of 11,931,977. Snow Lake Resources has a one year low of $0.15 and a one year high of $1.88. The company has a 50 day moving average of $0.52 and a 200-day moving average of $0.50.

Snow Lake Resources (NASDAQ:LITM) last announced its quarterly earnings results on Thursday, April 10th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Snow Lake Resources Company Profile

Snow Lake Resources Ltd., a natural resource exploration company, engages in the exploration and development of mineral resources in Canada. The company explores for lithium mineral resources. Its flagship property is the Thomson Brothers and Grass River lithium projects located to Crowduck Bay Fault region.