Almonty Industries Inc. (NASDAQ:ALM) Short Interest Update

Almonty Industries Inc. (NASDAQ:ALM) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 8,885,144 shares, a growth of 115.4% from the May 31st total of 4,124,241 shares. Based on an average daily volume of 6,105,704 shares, the short-interest ratio is currently 1.5 days. Currently, 3.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Leonteq Securities AG purchased a new position in shares of Almonty Industries during the 1st quarter worth $29,000. FNY Investment Advisers LLC purchased a new stake in shares of Almonty Industries in the 3rd quarter worth $30,000. Global Retirement Partners LLC bought a new position in Almonty Industries in the 4th quarter worth $35,000. Rockefeller Capital Management L.P. raised its holdings in Almonty Industries by 30.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. Finally, State of Wyoming purchased a new position in Almonty Industries during the fourth quarter valued at $41,000.

Almonty Industries Price Performance

NASDAQ ALM opened at $16.14 on Tuesday. Almonty Industries has a 52 week low of $3.16 and a 52 week high of $24.41. The firm has a market capitalization of $4.61 billion and a P/E ratio of -32.28. The company has a quick ratio of 2.37, a current ratio of 2.45 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $19.23 and a 200-day moving average price of $15.61.

Almonty Industries (NASDAQ:ALM) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $18.52 million for the quarter, compared to analysts’ expectations of $15.44 million. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. Equities research analysts anticipate that Almonty Industries will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

ALM has been the topic of a number of research analyst reports. B. Riley Financial increased their price objective on shares of Almonty Industries from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Almonty Industries in a research report on Thursday, June 18th. Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. DA Davidson reissued a “buy” rating and set a $25.00 price target on shares of Almonty Industries in a report on Thursday, March 26th. Finally, Oppenheimer raised their price target on Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.88.

About Almonty Industries

Almonty Industries is a Canada-based mining company focused on the production, development and acquisition of tungsten assets. The company’s principal business activity is the mining and processing of tungsten-bearing ore to produce tungsten concentrates for industrial customers. Almonty pursues both operating mines and advanced-stage development projects with the objective of supplying a critical raw material used in hardmetals, tooling, drilling and other industrial applications.

Almonty’s asset footprint has historically included operating and development projects in Europe and Asia.