IGO Limited (OTCMKTS:IPGDF) Sees Large Growth in Short Interest

IGO Limited (OTCMKTS:IPGDF) saw a significant growth in short interest in April. As of April 30th, there was short interest totaling 579,613 shares, a growth of 395.6% from the April 15th total of 116,951 shares. Based on an average daily volume of 249 shares, the short-interest ratio is presently 2,327.8 days.

IGO Stock Performance

Shares of IPGDF remained flat at $6.50 during trading hours on Friday. The firm’s 50 day moving average price is $5.66 and its 200-day moving average price is $5.29. IGO has a fifty-two week low of $2.35 and a fifty-two week high of $6.74.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated an “underperform” rating on shares of IGO in a research note on Monday, February 16th. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, IGO has an average rating of “Reduce”.

IGO Company Profile

IGO Limited, trading as IPGDF on the OTC Markets, is an Australian-based diversified mining and metals company with a strategic focus on battery-cycle commodities and precious metals. Originally founded as Independence Group NL in 1997, the company rebranded to IGO Limited in 2018 to reflect its evolving portfolio. IGO’s operations span the extraction, processing and marketing of key industrial minerals and metals that underpin the global energy transition.

The company’s core asset portfolio includes the Nova nickel–copper–cobalt operation in Western Australia, which produces mixed sulphide concentrate; a 50% interest in the Tropicana gold joint venture; and the Kwinana Nickel Refinery, which refines concentrate into battery-grade nickel products.