NioCorp Developments Ltd. (NASDAQ:NB) Short Interest Up 36.7% in March

NioCorp Developments Ltd. (NASDAQ:NB) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,020,000 shares, an increase of 36.7% from the February 28th total of 746,300 shares. Based on an average daily volume of 285,800 shares, the short-interest ratio is presently 3.6 days. Approximately 2.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in NioCorp Developments during the 4th quarter valued at about $359,000. Northern Trust Corp bought a new position in shares of NioCorp Developments in the fourth quarter worth approximately $980,000. Finally, Virtu Financial LLC grew its holdings in shares of NioCorp Developments by 158.0% during the fourth quarter. Virtu Financial LLC now owns 34,355 shares of the company’s stock valued at $53,000 after buying an additional 21,038 shares during the last quarter. Institutional investors own 4.03% of the company’s stock.

NioCorp Developments Stock Up 3.6 %

Shares of NB stock traded up $0.07 during mid-day trading on Tuesday, reaching $2.04. 98,218 shares of the company’s stock traded hands, compared to its average volume of 170,802. The company’s 50-day moving average price is $2.12 and its 200-day moving average price is $1.79. The company has a market cap of $95.51 million, a P/E ratio of -2.65 and a beta of -0.32. NioCorp Developments has a 12 month low of $1.27 and a 12 month high of $4.00.

NioCorp Developments (NASDAQ:NB) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. Equities analysts predict that NioCorp Developments will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NB. HC Wainwright decreased their price target on shares of NioCorp Developments from $8.50 to $3.25 and set a “buy” rating for the company in a research note on Monday, January 13th. Maxim Group started coverage on NioCorp Developments in a report on Wednesday, January 8th. They set a “buy” rating and a $4.00 target price on the stock.

NioCorp Developments Company Profile

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.