ioneer Ltd (NASDAQ:IONR) Sees Large Decline in Short Interest

ioneer Ltd (NASDAQ:IONR) was the target of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 30,796 shares, a drop of 29.1% from the February 12th total of 43,433 shares. Based on an average daily trading volume, of 34,989 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily trading volume, of 34,989 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of ioneer in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

ioneer Stock Down 9.3%

NASDAQ IONR traded down $0.33 during trading on Friday, reaching $3.22. 40,909 shares of the stock traded hands, compared to its average volume of 56,048. ioneer has a fifty-two week low of $2.30 and a fifty-two week high of $8.20. The stock’s 50-day moving average price is $4.75 and its 200 day moving average price is $4.65.

Institutional Trading of ioneer

A number of institutional investors have recently made changes to their positions in the business. Marshall Wace LLP bought a new stake in shares of ioneer in the 4th quarter valued at about $793,000. Virtu Financial LLC bought a new stake in ioneer during the fourth quarter worth about $96,000. Millennium Management LLC bought a new position in ioneer in the fourth quarter valued at approximately $96,000. OLD Mission Capital LLC acquired a new position in shares of ioneer during the 4th quarter worth $88,000. Finally, HRT Financial LP bought a new position in shares of ioneer in the fourth quarter worth about $83,000.

About ioneer

ioneer Ltd. is a mineral exploration and development company focused on advancing its flagship Rhyolite Ridge lithium-boron project in Nevada. The company’s core business activities center on developing a vertically integrated supply of critical battery minerals, including lithium carbonate and boric acid, to support the growing electric vehicle and energy storage markets. ioneer’s Rhyolite Ridge project is one of the only known deposits globally that contains both lithium and boron in economically recoverable concentrations, positioning the company to deliver a differentiated product to downstream battery and industrial users.

Founded and listed on the Australian Securities Exchange in the late 2010s under its original name, the company rebranded to ioneer in 2018 to reflect a strategic focus on innovation in battery metals.