5E Advanced Materials, Inc. (NASDAQ:FEAM) Sees Significant Decrease in Short Interest

5E Advanced Materials, Inc. (NASDAQ:FEAM) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 996,000 shares, a drop of 5.1% from the October 15th total of 1,050,000 shares. Approximately 2.0% of the company’s stock are short sold. Based on an average trading volume of 112,000 shares, the days-to-cover ratio is currently 8.9 days.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. DA Davidson reissued a “buy” rating and issued a $10.00 price target on shares of 5E Advanced Materials in a report on Thursday, September 5th. Maxim Group dropped their target price on shares of 5E Advanced Materials from $4.00 to $1.25 and set a “buy” rating on the stock in a research report on Thursday, September 12th.

Institutional Trading of 5E Advanced Materials

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in 5E Advanced Materials by 11.8% during the 3rd quarter. Geode Capital Management LLC now owns 487,922 shares of the company’s stock worth $264,000 after purchasing an additional 51,668 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of 5E Advanced Materials during the second quarter worth about $83,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of 5E Advanced Materials during the second quarter worth approximately $61,000. Bleakley Financial Group LLC acquired a new stake in 5E Advanced Materials in the first quarter valued at approximately $42,000. Finally, AQR Capital Management LLC purchased a new position in 5E Advanced Materials in the second quarter worth approximately $27,000.

5E Advanced Materials Stock Up 2.2 %

NASDAQ FEAM opened at $0.47 on Monday. The business’s fifty day simple moving average is $0.53 and its 200-day simple moving average is $0.95. The company has a quick ratio of 0.70, a current ratio of 1.08 and a debt-to-equity ratio of 35.91. The firm has a market cap of $32.37 million, a PE ratio of -0.42 and a beta of 1.92. 5E Advanced Materials has a 52 week low of $0.40 and a 52 week high of $2.48.

5E Advanced Materials (NASDAQ:FEAM) last posted its earnings results on Monday, September 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.16). As a group, equities analysts anticipate that 5E Advanced Materials will post -0.4 earnings per share for the current year.

5E Advanced Materials Company Profile

5E Advanced Materials, Inc engages in the exploration and development of mineral properties in Australia and the United States. The company primarily explores for borates and lithium deposits. It holds 100% interest in the Fort Cady project located in the Mojave Desert region in eastern San Bernardino County, California.