Liontown Resources Limited (OTCMKTS:LINRF) Sees Significant Drop in Short Interest

Liontown Resources Limited (OTCMKTS:LINRF) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 15,570,218 shares, a drop of 16.2% from the March 31st total of 18,582,007 shares. Based on an average daily volume of 20,078 shares, the days-to-cover ratio is currently 775.5 days.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group set a $1.75 price objective on Liontown Resources and gave the stock a “neutral” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Liontown Resources Price Performance

Shares of OTCMKTS LINRF opened at C$1.85 on Friday. Liontown Resources has a 12-month low of C$0.34 and a 12-month high of C$1.88. The stock’s 50 day simple moving average is C$1.27 and its 200 day simple moving average is C$1.13.

About Liontown Resources

Liontown Resources Limited is an Australia-based mineral exploration and development company focused on the discovery and advancement of lithium projects for the global battery market. The company’s principal asset is the Kathleen Valley lithium project in the Eastern Goldfields region of Western Australia, where it is advancing a large-scale hard-rock lithium deposit toward production of spodumene concentrate. Liontown’s project portfolio also includes several early-stage tenements in the region that complement its flagship development site.

At Kathleen Valley, Liontown has completed extensive drilling campaigns and technical studies to define a significant mineral resource and to support engineering and environmental approvals.