Surge Battery Metals Inc. (OTCMKTS:NILIF) Sees Large Growth in Short Interest

Surge Battery Metals Inc. (OTCMKTS:NILIF) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 56,956 shares, a growth of 78.7% from the September 30th total of 31,868 shares. Based on an average daily trading volume, of 240,488 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Zacks Research downgraded Surge Battery Metals from a “hold” rating to a “strong sell” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Surge Battery Metals Stock Performance

Shares of OTCMKTS:NILIF traded down $0.04 during trading on Friday, reaching $0.43. 105,307 shares of the stock were exchanged, compared to its average volume of 106,547. Surge Battery Metals has a 12-month low of $0.27 and a 12-month high of $0.80. The firm has a market cap of $142.72 million, a price-to-earnings ratio of -10.84 and a beta of 1.76. The firm’s 50-day moving average price is $0.56 and its 200 day moving average price is $0.51.

Surge Battery Metals (OTCMKTS:NILIF) last posted its quarterly earnings results on Friday, August 28th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). As a group, equities research analysts forecast that Surge Battery Metals will post -0.03 EPS for the current year.

Surge Battery Metals Company Profile

Surge Battery Metals Inc is a Canadian mineral exploration and development company focused on advancing battery-metal projects in North America. The company’s principal asset is the Nevada North Lithium Project, a lithium claystone project located in Elko County, Nevada.

Surge is evaluating the project as a potential source of lithium for use in rechargeable batteries and electric vehicles. Its activities include mineral exploration, drilling, resource evaluation, metallurgical testing and technical studies intended to assess the project’s development potential.