NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,020,000 shares, an increase of 36.7% from the February 28th total of 746,300 shares. Approximately 2.6% of the company's shares are short sold. Based on an average trading volume of 285,800 shares, the short-interest ratio is presently 3.6 days.
Institutional Investors Weigh In On NioCorp Developments
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp acquired a new position in NioCorp Developments in the fourth quarter worth approximately $980,000. Jane Street Group LLC bought a new stake in NioCorp Developments in the fourth quarter worth approximately $359,000. Finally, Virtu Financial LLC increased its stake in shares of NioCorp Developments by 158.0% during the 4th quarter. Virtu Financial LLC now owns 34,355 shares of the company's stock worth $53,000 after purchasing an additional 21,038 shares during the last quarter. 4.03% of the stock is owned by hedge funds and other institutional investors.
NioCorp Developments Price Performance
NB traded down $0.01 on Wednesday, reaching $2.03. 87,011 shares of the company traded hands, compared to its average volume of 171,003. The company has a market cap of $95.04 million, a price-to-earnings ratio of -2.64 and a beta of -0.32. The stock's 50 day moving average price is $2.12 and its 200-day moving average price is $1.79. NioCorp Developments has a 52-week low of $1.27 and a 52-week high of $4.00.
NioCorp Developments (NASDAQ:NB - Get Free Report) last posted its quarterly 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. As a group, equities research analysts forecast that NioCorp Developments will post -0.34 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
NB has been the topic of several recent analyst reports. HC Wainwright cut their target price on shares of NioCorp Developments from $8.50 to $3.25 and set a "buy" rating on the stock in a research note on Monday, January 13th. Maxim Group assumed coverage on NioCorp Developments in a research report on Wednesday, January 8th. They set a "buy" rating and a $4.00 price target on the stock.
Get Our Latest Report on NioCorp Developments
NioCorp Developments Company Profile
(
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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.
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