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.
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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