Lithium Ionic Corp. (OTCMKTS:LTHCF) Sees Large Drop in Short Interest

Lithium Ionic Corp. (OTCMKTS:LTHCF) saw a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 103,952 shares, a drop of 84.2% from the July 30th total of 658,994 shares. Based on an average daily volume of 69,634 shares, the days-to-cover ratio is presently 1.5 days.

Lithium Ionic Price Performance

Shares of Lithium Ionic stock remained flat at $0.48 on Friday. Lithium Ionic has a 1 year low of $0.27 and a 1 year high of $1.06. The company’s 50-day simple moving average is $0.47 and its 200-day simple moving average is $0.65.

Analyst Ratings Changes

Separately, BMO Capital Markets cut Lithium Ionic from an “outperform” rating to a “market perform” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Lithium Ionic Company Profile

Lithium Ionic Corp. engages in the acquisition, exploration, and development of mineral properties in Brazil. The company's flagship properties include a 100% ownership in the Itinga lithium project that comprises seven mineral licenses covering an area of approximately 1,300 hectares in the prolific Aracuai lithium province; and the Salinas project located in the northeastern part of Minas Gerais state. Lithium Ionic Corp. is headquartered in Toronto, Canada.