Osisko Development Corp. (NYSE:ODV) Sees Significant Growth in Short Interest

Key Points

• Osisko Development Corp. saw a **158.7% increase** in short interest in September, with a total of **4,010,000 shares** sold short as of September 15th.
• Institutional investors and hedge funds now own **15.16%** of Osisko Development stock, with notable stakes being increased or newly acquired by several firms during the first and second quarters.
• Analyst ratings are mixed, with a **consensus rating of "Moderate Buy"**, including a recent upgrade from Wall Street Zen from "sell" to "hold".

Osisko Development Corp. (NYSE:ODV - Get Free Report) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 4,010,000 shares, a growth of 158.7% from the August 31st total of 1,550,000 shares. Based on an average trading volume of 983,700 shares, the days-to-cover ratio is currently 4.1 days. Currently, 4.3% of the company's stock are sold short. Currently, 4.3% of the company's stock are sold short. Based on an average trading volume of 983,700 shares, the days-to-cover ratio is currently 4.1 days.

Institutional Investors Weigh In On Osisko Development

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Anson Funds Management LP lifted its holdings in shares of Osisko Development by 25.1% during the first quarter. Anson Funds Management LP now owns 3,581,267 shares of the company's stock worth $5,336,000 after buying an additional 718,049 shares during the last quarter. GMT Capital Corp acquired a new position in shares of Osisko Development during the first quarter worth approximately $1,213,000. Vestcor Inc acquired a new position in shares of Osisko Development during the first quarter worth approximately $1,118,000. Quarry LP acquired a new position in shares of Osisko Development during the first quarter worth approximately $447,000. Finally, U S Global Investors Inc. increased its position in shares of Osisko Development by 150.0% during the second quarter. U S Global Investors Inc. now owns 250,000 shares of the company's stock valued at $537,000 after purchasing an additional 150,000 shares during the period. 15.16% of the stock is currently owned by institutional investors and hedge funds.

Osisko Development Stock Up 2.0%

NYSE:ODV traded up $0.07 on Friday, hitting $3.39. 1,060,962 shares of the company's stock traded hands, compared to its average volume of 1,399,300. The company has a market cap of $467.27 million, a PE ratio of -4.13 and a beta of 0.70. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.01. Osisko Development has a 1 year low of $1.16 and a 1 year high of $3.59. The firm has a 50-day moving average price of $2.79 and a 200-day moving average price of $2.22.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Osisko Development in a research report on Saturday, September 27th. Wall Street Zen upgraded Osisko Development from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Stifel Canada upgraded Osisko Development to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, National Bankshares restated an "outperform" rating on shares of Osisko Development in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Osisko Development Company Profile

Osisko Development Corp. acquires, explores, and develops mineral properties in Canada, Mexico, and the United States. It explores for gold; and precious and base metals. The company's flagship asset is the Cariboo Gold Project covering an area of approximately 155,000 hectares consisting of 415 mineral titles located in British Columbia, Canada.

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