IGO Limited (OTCMKTS:IPGDF) Short Interest Up 395.6% in April

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

IGO Stock Up 34.3%

IPGDF stock opened at $6.50 on Wednesday. IGO has a 52 week low of $2.35 and a 52 week high of $6.74. The firm’s fifty day moving average is $5.63 and its 200 day moving average is $5.26.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed an “underperform” rating on shares of IGO in a research note on Monday, February 16th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, IGO currently 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.