NioCorp Developments Ltd. (NASDAQ:NB) Short Interest Update

NioCorp Developments Ltd. (NASDAQ:NB) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 943,800 shares, a growth of 24.6% from the January 31st total of 757,700 shares. Based on an average daily volume of 241,000 shares, the days-to-cover ratio is currently 3.9 days. Approximately 2.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NB shares. HC Wainwright reduced their price objective on shares of NioCorp Developments from $8.50 to $3.25 and set a “buy” rating for the company in a research note on Monday, January 13th. Maxim Group assumed coverage on NioCorp Developments in a report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price objective for the company.

NioCorp Developments Stock Down 2.6 %

Shares of NB traded down $0.06 during mid-day trading on Thursday, hitting $2.21. 944,423 shares of the company traded hands, compared to its average volume of 156,640. The business has a 50 day moving average of $1.95 and a 200 day moving average of $1.77. The company has a market capitalization of $103.47 million, a PE ratio of -2.87 and a beta of -0.31. NioCorp Developments has a 1-year low of $1.27 and a 1-year high of $4.00.

NioCorp Developments (NASDAQ:NB) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. As a group, research analysts expect that NioCorp Developments will post -0.34 EPS for the current fiscal year.

Institutional Trading of NioCorp Developments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of NioCorp Developments in the third quarter valued at about $29,000. Jane Street Group LLC purchased a new stake in NioCorp Developments in the fourth quarter valued at approximately $359,000. Finally, Northern Trust Corp acquired a new position in NioCorp Developments in the 4th quarter worth approximately $980,000. Institutional investors and hedge funds own 4.03% of the company’s stock.

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.