5E Advanced Materials, Inc. (NASDAQ:FEAM) Shares Shorted: Short Interest Up 73.9% in October

Key Points

• Short interest surged 73.9% to 824,826 shares in October, representing 2.0% of shares outstanding; the stock had a days-to-cover ratio of 0.7.
• Analyst sentiment remained mixed, with HC Wainwright raising its price target to $6.75 and issuing a Buy rating, while the overall consensus was Hold.
• Director Graham van’t Hoff purchased 60,000 shares for approximately $215,400, while several institutional investors also established or increased positions in the company.

5E Advanced Materials, Inc. (NASDAQ:FEAM - Get Free Report) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 824,826 shares, a growth of 73.9% from the September 30th total of 474,410 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average trading volume of 1,183,526 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. HC Wainwright boosted their price objective on shares of 5E Advanced Materials from $3.50 to $6.75 and gave the company a "buy" rating in a report on Monday, October 5th. Wall Street Zen upgraded shares of 5E Advanced Materials from a "sell" rating to a "hold" rating in a report on Saturday, October 10th. Finally, Weiss Ratings raised shares of 5E Advanced Materials from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $6.75.

5E Advanced Materials Stock Performance

NASDAQ:FEAM opened at $2.33 on Monday. The firm's 50-day simple moving average is $2.42 and its 200 day simple moving average is $1.95. 5E Advanced Materials has a 52 week low of $0.90 and a 52 week high of $5.01. The firm has a market cap of $115.64 million, a price-to-earnings ratio of -1.57 and a beta of 1.84.

5E Advanced Materials (NASDAQ:FEAM - Get Free Report) last posted its quarterly earnings data on Thursday, September 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.32) by $0.18.

Insider Activity at 5E Advanced Materials

In other news, Director Graham van't Hoff bought 60,000 shares of the firm's stock in a transaction dated Thursday, October 8th. The shares were bought at an average price of $3.59 per share, with a total value of $215,400.00. Following the completion of the transaction, the director owned 102,997 shares of the company's stock, valued at $369,759.23. This trade represents a 139.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 5E Advanced Materials

Several hedge funds have recently modified their holdings of the business. Woodward Diversified Capital LLC lifted its holdings in 5E Advanced Materials by 59.9% during the 3rd quarter. Woodward Diversified Capital LLC now owns 79,400 shares of the company's stock worth $268,000 after purchasing an additional 29,750 shares during the last quarter. T3 Companies LLC purchased a new position in shares of 5E Advanced Materials in the 3rd quarter worth $514,000. Renaissance Technologies LLC purchased a new position in shares of 5E Advanced Materials in the 1st quarter worth $268,000. Aristides Capital LLC bought a new stake in 5E Advanced Materials during the 1st quarter valued at $765,000. Finally, AWM Investment Company Inc. acquired a new position in shares of 5E Advanced Materials in the 2nd quarter valued at $4,346,000.

About 5E Advanced Materials

5E Advanced Materials, Inc is a critical materials company focused on developing domestic sources of boron and lithium. The company's primary asset is the Fort Cady borate project in the Mojave Desert of Southern California, which it is advancing as a potential source of boric acid, lithium carbonate and other boron-based products.

Boron is used in applications including high-strength materials, glass and ceramics, agriculture, clean-energy technologies and defense-related products. Lithium carbonate is a key material used in the production of lithium-ion batteries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.