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

NioCorp Developments Ltd. (NASDAQ:NB) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 345,400 shares, a decrease of 54.3% from the October 31st total of 756,400 shares. Based on an average daily trading volume, of 148,200 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $8.50 price target on shares of NioCorp Developments in a research note on Thursday, August 29th.

NioCorp Developments Stock Performance

Shares of NioCorp Developments stock traded up $0.01 on Thursday, reaching $1.31. 97,610 shares of the company were exchanged, compared to its average volume of 117,252. The firm has a market cap of $55.69 million, a price-to-earnings ratio of -1.54 and a beta of -0.28. NioCorp Developments has a 1-year low of $1.27 and a 1-year high of $4.00. The company’s 50-day moving average is $1.68 and its two-hundred day moving average is $1.85.

NioCorp Developments (NASDAQ:NB) last issued its earnings results on Monday, September 23rd. The company reported ($0.53) earnings per share for the quarter. As a group, sell-side analysts forecast that NioCorp Developments will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On NioCorp Developments

Several institutional investors have recently bought and sold shares of NB. Vanguard Group Inc. lifted its holdings in shares of NioCorp Developments by 529.0% in the first quarter. Vanguard Group Inc. now owns 734,425 shares of the company’s stock valued at $1,998,000 after buying an additional 617,664 shares during the period. XTX Topco Ltd lifted its holdings in shares of NioCorp Developments by 109.5% in the second quarter. XTX Topco Ltd now owns 28,638 shares of the company’s stock valued at $50,000 after purchasing an additional 14,966 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of NioCorp Developments in the third quarter worth $29,000. Institutional investors and hedge funds own 4.03% of the company’s stock.

About NioCorp Developments

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.