NioCorp Developments Ltd. (NASDAQ:NB) Short Interest Update

NioCorp Developments Ltd. (NASDAQ:NB) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 746,300 shares, a drop of 20.9% from the February 13th total of 943,800 shares. Based on an average daily volume of 281,700 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.8% of the company’s shares are short sold.

Hedge Funds Weigh In On NioCorp Developments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in shares of NioCorp Developments during the third quarter worth $29,000. Northern Trust Corp acquired a new stake in shares of NioCorp Developments during the fourth quarter worth $980,000. Finally, Jane Street Group LLC bought a new position in NioCorp Developments during the fourth quarter worth $359,000. Institutional investors own 4.03% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NB. HC Wainwright cut their price objective on shares of NioCorp Developments from $8.50 to $3.25 and set a “buy” rating on the stock in a research report on Monday, January 13th. Maxim Group assumed coverage on shares of NioCorp Developments in a research note on Wednesday, January 8th. They issued a “buy” rating and a $4.00 price target on the stock.

NioCorp Developments Trading Up 7.4 %

NASDAQ NB traded up $0.14 during trading on Monday, reaching $1.96. The company’s stock had a trading volume of 177,973 shares, compared to its average volume of 161,741. The firm has a market capitalization of $91.53 million, a price-to-earnings ratio of -2.51 and a beta of -0.32. NioCorp Developments has a 12 month low of $1.27 and a 12 month high of $4.00. The firm has a 50 day moving average price of $2.02 and a 200 day moving average price of $1.77.

NioCorp Developments (NASDAQ:NB) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. On average, equities analysts forecast that NioCorp Developments will post -0.34 EPS for the current fiscal 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.