NioCorp Developments Ltd. (NASDAQ:NIOBW) Sees Large Increase in Short Interest
by Sarita Garza · The Markets DailyNioCorp Developments Ltd. (NASDAQ:NIOBW – Get Free Report) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 7,744 shares, an increase of 175.5% from the September 30th total of 2,811 shares. Based on an average daily volume of 10,597 shares, the days-to-cover ratio is currently 0.7 days.
NioCorp Developments Stock Down 22.9%
Shares of NIOBW traded down $0.11 during midday trading on Friday, hitting $0.37. 7,958 shares of the company traded hands, compared to its average volume of 18,086. The firm has a 50 day moving average of $0.83 and a 200-day moving average of $1.59. NioCorp Developments has a 52 week low of $0.35 and a 52 week high of $3.43.
About NioCorp Developments
NioCorp Developments Ltd. is a mineral exploration and development company focused on advancing the Elk Creek Critical Minerals Project in southeast Nebraska. The project is designed to produce niobium, scandium and titanium, along with several rare earth elements, including neodymium, praseodymium, dysprosium and terbium. These materials are used in applications such as high-strength alloys, electric vehicle motors, aerospace components, magnets and other advanced technologies.
The Elk Creek Project is one of the company’s central assets and is not yet an operating mine.