Short Interest in Lynas Corp. (OTCMKTS:LYSDY) Decreases By 50.0%

Key Points

• Short interest in Lynas Corp. has decreased by 50.0% in August, falling from 515,200 shares to 257,400 shares.
• Analyst Canaccord Genuity Group has downgraded Lynas from a "strong-buy" to a "hold" rating.
• Lynas shares opened at $9.46, with a 52-week range between $3.79 and $9.86.

Lynas Corp. (OTCMKTS:LYSDY - Get Free Report) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 257,400 shares, a drop of 50.0% from the August 15th total of 515,200 shares. Approximately 0.0% of the company's shares are sold short. Based on an average daily volume of 845,900 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 845,900 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the company's shares are sold short.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group downgraded 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.com, the company has an average rating of "Hold".

Lynas Price Performance

OTCMKTS LYSDY traded up $0.09 during mid-day trading on Friday, reaching $9.85. 179,181 shares of the stock were exchanged, compared to its average volume of 251,965. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.83 and a quick ratio of 1.67. The stock has a 50 day simple moving average of $8.41 and a 200-day simple moving average of $6.30. Lynas has a one year low of $3.79 and a one year high of $9.90.

Lynas Company Profile

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.