NioCorp Developments Ltd. (NASDAQ:NB) Short Interest Up 106.0% in January

NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) was the recipient of a significant growth in short interest in 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. Based on an average daily volume of 233,700 shares, the days-to-cover ratio is currently 3.2 days. Currently, 1.9% of the shares of the company are sold short.

NioCorp Developments Price Performance

Shares of NASDAQ NB traded down $0.12 during midday trading on Monday, reaching $2.33. 334,841 shares of the stock were exchanged, compared to its average volume of 362,796. The business has a 50-day simple moving average of $1.80 and a two-hundred day simple moving average of $1.75. The company has a market capitalization of $108.55 million, a price-to-earnings ratio of -2.74 and a beta of -0.36. NioCorp Developments has a 12 month low of $1.27 and a 12 month high of $4.00.

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

Institutional Investors Weigh In On NioCorp Developments

Several institutional investors and hedge funds have recently added to or reduced their stakes in NB. Virtu Financial LLC acquired a new position in NioCorp Developments in the 3rd quarter valued at about $29,000. Jane Street Group LLC acquired a new position in NioCorp Developments in the 4th quarter valued at about $359,000. Finally, Northern Trust Corp acquired a new position in NioCorp Developments in the 4th quarter valued at about $980,000. 4.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

NioCorp Developments Company Profile

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.