Pilbara Minerals Limited (OTCMKTS:PILBF) Sees Large Increase in Short Interest

Pilbara Minerals Limited (OTCMKTS:PILBFGet Rating) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 1,715,700 shares, a growth of 22.6% from the May 15th total of 1,399,500 shares. Based on an average trading volume of 216,900 shares, the short-interest ratio is currently 7.9 days.

PILBF stock traded down $0.03 during trading on Friday, hitting $1.40. 143,611 shares of the company’s stock traded hands, compared to its average volume of 185,080. The business has a fifty day simple moving average of $1.93 and a two-hundred day simple moving average of $2.12. Pilbara Minerals has a 1 year low of $0.99 and a 1 year high of $2.85.

Several analysts have recently weighed in on PILBF shares. JPMorgan Chase & Co. raised shares of Pilbara Minerals from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 5th. Citigroup raised shares of Pilbara Minerals from a “neutral” rating to a “buy” rating and set a $3.60 price objective on the stock in a report on Thursday, April 14th.

About Pilbara Minerals (Get Rating)

Pilbara Minerals Limited explores for, develops, and operates mineral resources in Australia. The company primarily holds a 100% interest in the Pilgangoora lithium-tantalum project located in the Pilbara region of Western Australia. The company was incorporated in 2005 and is headquartered in West Perth, Australia.

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