Nickel Industries Limited (OTCMKTS:NICMF) Sees Significant Decrease in Short Interest

Nickel Industries Limited (OTCMKTS:NICMF) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 211,702 shares, a drop of 69.9% from the April 15th total of 703,646 shares. Based on an average daily volume of 1,269 shares, the short-interest ratio is presently 166.8 days.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “buy” rating on shares of Nickel Industries in a report on Monday, February 16th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Nickel Industries has an average rating of “Buy”.

Nickel Industries Stock Performance

NICMF remained flat at $0.80 during mid-day trading on Friday. 300 shares of the company’s stock traded hands, compared to its average volume of 8,218. The business’s fifty day simple moving average is $0.67 and its two-hundred day simple moving average is $0.60. Nickel Industries has a 12 month low of $0.40 and a 12 month high of $0.80.

Nickel Industries Company Profile

Nickel Industries Limited is an Australia-based resources company focused on the development, construction and operation of battery-grade nickel processing assets in Indonesia. The company’s core business centers on the production of mixed hydroxide precipitate (MHP), a precursor material used in the manufacture of lithium-ion batteries for electric vehicles and energy storage systems.

The company owns and operates two high-pressure acid leach (HPAL) plants in Southeast Sulawesi. Its flagship Hengjaya Nickel project and the Ranger Nickel facility leverage Indonesia’s rich laterite nickel deposits to produce MHP for customers in Asia, Europe and North America.