Lotus Resources Limited (OTCMKTS:LTSRF) Sees Large Increase in Short Interest

Lotus Resources Limited (OTCMKTS:LTSRF) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 659,500 shares, an increase of 309.4% from the August 15th total of 161,100 shares. Based on an average trading volume of 355,700 shares, the days-to-cover ratio is currently 1.9 days.

Separately, Canaccord Genuity initiated coverage on shares of Lotus Resources in a research note on Wednesday, June 2nd. They issued a “hold” rating on the stock.

LTSRF stock opened at $0.23 on Wednesday. Lotus Resources has a 12 month low of $0.10 and a 12 month high of $0.28. The business has a 50-day moving average of $0.14.

About Lotus Resources

Lotus Resources Limited engages in the exploration and development of mineral properties in Australia and Malawi. The company also explores for cobalt ores. Its flagship property is the 65% owned Kayelekera uranium project located in northern Malawi, Africa. The company was formerly known as Hylea Metals Limited and changed its name to Lotus Resources Limited in August 2019.

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