NioCorp Developments (NASDAQ:NB) Stock Price Up 9.2% - Time to Buy?

NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) shares rose 9.2% on Monday . The company traded as high as $2.89 and last traded at $2.84. Approximately 925,270 shares traded hands during trading, an increase of 121% from the average daily volume of 418,818 shares. The stock had previously closed at $2.60.

Analyst Upgrades and Downgrades

Separately, HC Wainwright boosted their target price on NioCorp Developments from $3.25 to $4.25 and gave the company a "buy" rating in a research report on Tuesday, April 29th.

NioCorp Developments Trading Down 9.5%

The company has a fifty day moving average of $2.55 and a 200-day moving average of $2.16. The stock has a market cap of $138.16 million, a PE ratio of -3.18 and a beta of -0.39.

NioCorp Developments (NASDAQ:NB - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). As a group, research analysts anticipate that NioCorp Developments Ltd. will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of NioCorp Developments

Several hedge funds have recently modified their holdings of NB. Virtu Financial LLC boosted its holdings in NioCorp Developments by 158.0% in the fourth quarter. Virtu Financial LLC now owns 34,355 shares of the company's stock valued at $53,000 after purchasing an additional 21,038 shares in the last quarter. Northern Trust Corp acquired a new stake in NioCorp Developments during the fourth quarter worth approximately $980,000. Jane Street Group LLC purchased a new stake in shares of NioCorp Developments during the 4th quarter worth approximately $359,000. PFG Advisors boosted its holdings in shares of NioCorp Developments by 384.2% in the 1st quarter. PFG Advisors now owns 181,168 shares of the company's stock valued at $357,000 after buying an additional 143,750 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its stake in NioCorp Developments by 76.0% during the 1st quarter. CreativeOne Wealth LLC now owns 29,983 shares of the company's stock worth $59,000 after acquiring an additional 12,946 shares in the last quarter. 4.03% of the stock is currently owned by institutional investors and hedge funds.

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.