Short Interest in Lynas Corp. (OTCMKTS:LYSDY) Drops By 42.1%

Key Points

• Lynas Corp. experienced a significant decrease in short interest, dropping 42.1% in August, with total short interest now at 515,200 shares.
• The company's stock price declined to $9.35 per share, demonstrating trading volume of 215,426 shares against an average of 391,400 shares.
• Canaccord Genuity Group downgraded Lynas from a "strong-buy" to a "hold" rating, reflecting a cautious outlook from analysts.

Lynas Corp. (OTCMKTS:LYSDY - Get Free Report) was the target of a significant drop in short interest during the month of August. As of August 15th, there was short interest totaling 515,200 shares, a drop of 42.1% from the July 31st total of 890,100 shares. Based on an average trading volume of 930,100 shares, the short-interest ratio is currently 0.6 days. Based on an average trading volume of 930,100 shares, the short-interest ratio is currently 0.6 days.

Lynas Stock Performance

Shares of LYSDY stock traded up $0.16 during trading on Thursday, reaching $9.57. The company's stock had a trading volume of 164,414 shares, compared to its average volume of 319,485. The company has a current ratio of 2.83, a quick ratio of 2.57 and a debt-to-equity ratio of 0.07. The stock's 50-day moving average price is $8.01 and its 200 day moving average price is $6.11. Lynas has a 1-year low of $3.79 and a 1-year high of $9.86.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group cut shares of Lynas from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Lynas presently has a consensus rating of "Hold".

About Lynas

Lynas Rare Earths Limited, together with its subsidiaries, engages in the exploration, development, mining, extraction, and processing of rare earth minerals in Australia and Malaysia. The company holds interests in the Mount Weld and Kalgoorlie projects in Western Australia. Its products include lanthanum, cerium, praseodymium, neodymium, samarium, europium, gadolinium, terbium, and dysprosium.