Short Interest in Nickel Industries Limited (OTCMKTS:NICMF) Decreases By 69.9%

Nickel Industries Limited (OTCMKTS:NICMF – Get Free Report) was the recipient of a large drop in short interest during 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 trading volume, of 1,269 shares, the short-interest ratio is currently 166.8 days.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “buy” rating on shares of Nickel Industries in a research note on Monday, February 16th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

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Nickel Industries Price Performance

Shares of Nickel Industries stock opened at $0.75 on Wednesday. Nickel Industries has a one year low of $0.40 and a one year high of $0.80. The stock’s fifty day moving average is $0.67 and its 200 day moving average is $0.60.

Nickel Industries Company Profile

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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.

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