Short Interest in NioCorp Developments Ltd. (NASDAQ:NB) Grows By 24.6%

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NB. 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 report on Monday, January 13th. Maxim Group initiated coverage on shares of NioCorp Developments in a report on Wednesday, January 8th. They set a "buy" rating and a $4.00 price target on the stock.

Institutional Trading of NioCorp Developments

Hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp bought a new stake in NioCorp Developments during the 4th quarter worth approximately $980,000. Jane Street Group LLC purchased a new stake in shares of NioCorp Developments in the 4th quarter valued at $359,000. Finally, Virtu Financial LLC boosted its stake 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 in the last quarter. Institutional investors own 4.03% of the company's stock.

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NioCorp Developments Stock Performance

NB traded down $0.08 during midday trading on Friday, reaching $2.16. The company had a trading volume of 591,534 shares, compared to its average volume of 158,786. The stock has a market cap of $101.13 million, a PE ratio of -2.81 and a beta of -0.32. NioCorp Developments has a 12-month low of $1.27 and a 12-month high of $4.00. The business has a 50-day moving average price of $2.00 and a two-hundred day moving average price of $1.78.

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

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.