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

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

Wall Street Analysts Forecast Growth

NB has been the subject of a number of research reports. Maxim Group initiated coverage on shares of NioCorp Developments in a report on Wednesday, January 8th. They set a "buy" rating and a $4.00 target price for the company. HC Wainwright dropped their price objective on shares of NioCorp Developments from $8.50 to $3.25 and set a "buy" rating for the company in a research note on Monday, January 13th.

Institutional Inflows and Outflows

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

NioCorp Developments Stock Down 4.3 %

Shares of NB traded down $0.09 during midday trading on Friday, reaching $2.00. The company had a trading volume of 378,925 shares, compared to its average volume of 172,655. NioCorp Developments has a 1-year low of $1.27 and a 1-year high of $4.00. The firm has a 50 day simple moving average of $2.14 and a 200-day simple moving average of $1.79. The stock has a market cap of $93.64 million, a PE ratio of -2.59 and a beta of -0.33.

NioCorp Developments (NASDAQ:NB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. As a group, sell-side analysts anticipate that NioCorp Developments will post -0.34 earnings per share for the current fiscal year.

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.