Osisko Development Corp. (NYSE:ODV) Sees Significant Decrease in Short Interest

Osisko Development Corp. (NYSE:ODV) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 977,400 shares, a drop of 12.7% from the February 28th total of 1,120,000 shares. Based on an average daily trading volume, of 268,600 shares, the days-to-cover ratio is presently 3.6 days. Currently, 1.0% of the shares of the company are short sold.

Osisko Development Stock Performance

Shares of ODV stock traded up $0.12 during trading hours on Thursday, reaching $1.61. 1,079,897 shares of the company traded hands, compared to its average volume of 212,094. The firm has a 50-day moving average price of $1.45 and a 200 day moving average price of $1.71. The company has a market cap of $219.94 million, a P/E ratio of -0.89 and a beta of 0.72. Osisko Development has a 12-month low of $1.16 and a 12-month high of $2.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.47 and a quick ratio of 0.43.

Osisko Development (NYSE:ODV) last posted its quarterly earnings results on Friday, March 28th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The firm had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.40 million. Osisko Development had a negative return on equity of 11.51% and a negative net margin of 1,817.64%. As a group, sell-side analysts predict that Osisko Development will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Osisko Development

A number of institutional investors have recently bought and sold shares of ODV. Polar Asset Management Partners Inc. bought a new position in shares of Osisko Development in the fourth quarter worth about $196,000. WCG Wealth Advisors LLC purchased a new position in Osisko Development in the 4th quarter worth approximately $201,000. Focus Partners Advisor Solutions LLC bought a new position in Osisko Development in the 4th quarter worth approximately $62,000. Bastion Asset Management Inc. purchased a new stake in Osisko Development during the 4th quarter valued at approximately $326,000. Finally, Anson Funds Management LP bought a new stake in shares of Osisko Development during the fourth quarter valued at approximately $4,667,000. Hedge funds and other institutional investors own 15.16% of the company’s stock.

About Osisko Development

Osisko Development Corp. acquires, explores, and develops mineral properties in Canada, Mexico, and the United States. It explores for gold; and precious and base metals. The company's flagship asset is the Cariboo Gold Project covering an area of approximately 155,000 hectares consisting of 415 mineral titles located in British Columbia, Canada.