NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 1,970,000 shares, a growth of 93.1% from the March 31st total of 1,020,000 shares. Based on an average daily trading volume, of 901,100 shares, the days-to-cover ratio is presently 2.2 days. Approximately 4.8% of the shares of the stock are sold short.
Hedge Funds Weigh In On NioCorp Developments
A number of large investors have recently made changes to their positions in NB. Northern Trust Corp purchased a new position in NioCorp Developments during the 4th quarter worth $980,000. Jane Street Group LLC acquired a new stake in NioCorp Developments in the fourth quarter worth about $359,000. Finally, Virtu Financial LLC raised its position in shares of NioCorp Developments by 158.0% in the 4th 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 during the last quarter. 4.03% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently weighed in on NB shares. Maxim Group started coverage on shares of NioCorp Developments in a report on Wednesday, January 8th. They issued a "buy" rating and a $4.00 target price on the stock. HC Wainwright raised their price objective on NioCorp Developments from $3.25 to $4.25 and gave the company a "buy" rating in a research note on Tuesday, April 29th.
Get Our Latest Stock Report on NioCorp Developments
NioCorp Developments Price Performance
NASDAQ NB traded down $0.05 during trading on Friday, reaching $2.31. 783,358 shares of the company's stock traded hands, compared to its average volume of 351,842. The company's 50 day simple moving average is $2.21 and its two-hundred day simple moving average is $1.90. NioCorp Developments has a 12-month low of $1.27 and a 12-month high of $4.15. The firm has a market cap of $124.43 million, a price-to-earnings ratio of -3.00 and a beta of -0.37.
NioCorp Developments (NASDAQ:NB - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. Research analysts expect that NioCorp Developments will post -0.34 earnings per share for the current fiscal year.
NioCorp Developments Company Profile
(
Get Free Report)
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.
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