Ivanhoe Electric Inc. (NYSEAMERICAN:IE) Short Interest Up 10.9% in September

Ivanhoe Electric Inc. (NYSEAMERICAN:IE) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 8,170,000 shares, a growth of 10.9% from the August 31st total of 7,370,000 shares. Based on an average daily volume of 847,300 shares, the short-interest ratio is currently 9.6 days. Currently, 11.2% of the shares of the stock are short sold.

Institutional Trading of Ivanhoe Electric

A number of institutional investors have recently added to or reduced their stakes in the stock. MQS Management LLC purchased a new position in Ivanhoe Electric during the 1st quarter valued at about $100,000. Principal Financial Group Inc. acquired a new stake in Ivanhoe Electric during the 2nd quarter valued at $106,000. ProShare Advisors LLC increased its position in Ivanhoe Electric by 10.0% during the first quarter. ProShare Advisors LLC now owns 11,504 shares of the company’s stock worth $113,000 after buying an additional 1,043 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Ivanhoe Electric in the fourth quarter worth $151,000. Finally, Sei Investments Co. boosted its stake in shares of Ivanhoe Electric by 11.5% during the first quarter. Sei Investments Co. now owns 44,849 shares of the company’s stock valued at $440,000 after acquiring an additional 4,610 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IE shares. Eight Capital upgraded Ivanhoe Electric to a “strong-buy” rating in a research report on Thursday, September 26th. Scotiabank reduced their price target on Ivanhoe Electric from $14.50 to $14.00 and set a “sector outperform” rating on the stock in a report on Monday, August 19th.

Ivanhoe Electric Stock Up 0.2 %

NYSEAMERICAN:IE traded up $0.02 during trading hours on Tuesday, reaching $8.48. 568,087 shares of the company’s stock were exchanged, compared to its average volume of 691,496. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.66 and a quick ratio of 3.52. The stock has a market cap of $1.02 billion, a P/E ratio of -7.93 and a beta of 0.81. Ivanhoe Electric has a 1-year low of $6.31 and a 1-year high of $12.98.

Ivanhoe Electric (NYSEAMERICAN:IE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.05). The firm had revenue of $0.54 million during the quarter, compared to analyst estimates of $1.00 million. Ivanhoe Electric had a negative net margin of 4,142.17% and a negative return on equity of 32.81%. Sell-side analysts predict that Ivanhoe Electric will post -1.39 EPS for the current year.

About Ivanhoe Electric

Ivanhoe Electric Inc explores and develops metals and mineral. The company provides Typhoon data acquisition system, a geophysical system that offers primary signal. It also explores copper and gold. The company was incorporated in 2020 and is headquartered in Tempe, Arizona.