Short Interest in NioCorp Developments Ltd. (NASDAQ:NB) Declines By 20.9%

NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 746,300 shares, a decline of 20.9% from the February 13th total of 943,800 shares. Based on an average daily volume of 281,700 shares, the short-interest ratio is presently 2.6 days. Approximately 1.8% of the company's stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NB. Northern Trust Corp acquired a new position in NioCorp Developments in the 4th quarter valued at approximately $980,000. Jane Street Group LLC bought a new stake in shares of NioCorp Developments during the fourth quarter valued at approximately $359,000. Finally, Virtu Financial LLC raised its stake in shares of NioCorp Developments by 158.0% in the fourth 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 and hedge funds own 4.03% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. 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 began coverage on shares of NioCorp Developments in a report on Wednesday, January 8th. They set a "buy" rating and a $4.00 price target for the company.

Remove Ads

NioCorp Developments Stock Up 12.8 %

NASDAQ NB traded up $0.22 during trading on Friday, hitting $1.94. The company's stock had a trading volume of 590,878 shares, compared to its average volume of 164,711. NioCorp Developments has a 52 week low of $1.27 and a 52 week high of $4.00. The firm has a market cap of $90.83 million, a P/E ratio of -2.52 and a beta of -0.32. The firm has a 50 day moving average price of $2.04 and a 200 day moving average price of $1.77.

NioCorp Developments (NASDAQ:NB - Get Free Report) last announced its 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. On average, equities analysts expect that NioCorp Developments will post -0.34 earnings per share for the current year.

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.