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

NioCorp Developments Ltd. (NASDAQ:NB) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 757,700 shares, a growth of 106.0% from the January 15th total of 367,900 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average trading volume of 233,700 shares, the days-to-cover ratio is presently 3.2 days.

NioCorp Developments Stock Down 2.8 %

NioCorp Developments stock traded down $0.07 during mid-day trading on Thursday, hitting $2.45. 176,688 shares of the company’s stock traded hands, compared to its average volume of 316,424. NioCorp Developments has a one year low of $1.27 and a one year high of $4.00. The company has a market cap of $114.15 million, a PE ratio of -2.88 and a beta of -0.36. The firm has a 50 day moving average price of $1.75 and a 200 day moving average price of $1.73.

NioCorp Developments (NASDAQ:NB) last released its earnings results on Tuesday, February 11th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. On average, analysts expect that NioCorp Developments will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NB. Maxim Group initiated coverage on NioCorp Developments in a report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 price target for the company. HC Wainwright decreased their price objective on shares of NioCorp Developments from $8.50 to $3.25 and set a “buy” rating for the company in a report on Monday, January 13th.

Institutional Investors Weigh In On NioCorp Developments

A hedge fund recently raised its stake in NioCorp Developments stock. Virtu Financial LLC grew its stake in shares of NioCorp Developments Ltd. (NASDAQ:NB) by 158.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,355 shares of the company’s stock after purchasing an additional 21,038 shares during the period. Virtu Financial LLC owned about 0.07% of NioCorp Developments worth $53,000 as of its most recent SEC filing. 4.03% of the stock is owned by institutional investors and hedge funds.

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.