Short Interest in NioCorp Developments Ltd. (NASDAQ:NB) Expands By 93.1%

NioCorp Developments Ltd. (NASDAQ:NB) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 1,970,000 shares, a growth of 93.1% from the March 31st total of 1,020,000 shares. Based on an average daily volume of 901,100 shares, the short-interest ratio is currently 2.2 days. Approximately 4.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On NioCorp Developments

Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp bought a new stake in NioCorp Developments in the fourth quarter valued at $980,000. Jane Street Group LLC acquired a new position in shares of NioCorp Developments during the fourth quarter valued at $359,000. Finally, Virtu Financial LLC increased its holdings in shares of NioCorp Developments by 158.0% during 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 during the period. 4.03% of the stock is currently owned by institutional investors.

NioCorp Developments Trading Up 2.3 %

NB stock opened at $2.72 on Tuesday. NioCorp Developments has a twelve month low of $1.27 and a twelve month high of $4.15. The company has a market capitalization of $127.34 million, a P/E ratio of -3.53 and a beta of -0.33. The firm has a 50 day simple moving average of $2.19 and a 200-day simple moving average of $1.88.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. On average, research analysts predict that NioCorp Developments will post -0.34 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on NB shares. HC Wainwright dropped their price target on NioCorp Developments from $8.50 to $3.25 and set a “buy” rating for the company in a research report on Monday, January 13th. Maxim Group began coverage on shares of NioCorp Developments in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 target price for the company.

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.