Short Interest in Nickel Industries Limited (OTCMKTS:NICMF) Decreases By 69.9%

Nickel Industries Limited (OTCMKTS:NICMF) saw a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 211,702 shares, a decrease of 69.9% from the April 15th total of 703,646 shares. Based on an average daily trading volume, of 1,269 shares, the short-interest ratio is presently 166.8 days.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “buy” rating on shares of Nickel Industries in a research note on Monday, February 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Nickel Industries has a consensus rating of “Buy”.

Nickel Industries Stock Performance

Shares of NICMF opened at $0.75 on Wednesday. Nickel Industries has a 12 month low of $0.40 and a 12 month high of $0.80. The business’s fifty day simple moving average is $0.67 and its two-hundred day simple moving average is $0.60.

Nickel Industries Company Profile

Nickel Industries Limited is an Australia-based resources company focused on the development, construction and operation of battery-grade nickel processing assets in Indonesia. The company’s core business centers on the production of mixed hydroxide precipitate (MHP), a precursor material used in the manufacture of lithium-ion batteries for electric vehicles and energy storage systems.

The company owns and operates two high-pressure acid leach (HPAL) plants in Southeast Sulawesi. Its flagship Hengjaya Nickel project and the Ranger Nickel facility leverage Indonesia’s rich laterite nickel deposits to produce MHP for customers in Asia, Europe and North America.