Nickel Industries Limited (OTCMKTS:NICMF) Sees Large Decline in Short Interest

Nickel Industries Limited (OTCMKTS:NICMF) saw a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 694,019 shares, a decline of 44.9% from the July 30th total of 1,259,187 shares. Based on an average daily trading volume, of 260 shares, the short-interest ratio is currently 2,669.3 days.

Nickel Industries Price Performance

Shares of NICMF remained flat at $0.62 during mid-day trading on Friday. Nickel Industries has a one year low of $0.42 and a one year high of $0.80. The business has a 50-day moving average of $0.60 and a two-hundred day moving average of $0.66.

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.