Short Interest in Nickel Industries Limited (OTCMKTS:NICMF) Rises By 583.1%

Nickel Industries Limited (OTCMKTS:NICMF) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 915,639 shares, an increase of 583.1% from the May 31st total of 134,046 shares. Based on an average trading volume of 2,096 shares, the days-to-cover ratio is presently 436.9 days.

Nickel Industries Price Performance

Nickel Industries stock remained flat at $0.58 during midday trading on Friday. The firm’s 50 day simple moving average is $0.71 and its 200-day simple moving average is $0.65. Nickel Industries has a 12-month low of $0.42 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.