Danakali Limited (OTCMKTS:SBMSF) Sees Large Decline in Short Interest

Danakali Limited (OTCMKTS:SBMSF – Get Rating) was the target of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 25,100 shares, a decline of 79.7% from the April 15th total of 123,700 shares. Based on an average daily volume of 72,600 shares, the days-to-cover ratio is presently 0.3 days.

Shares of SBMSF stock remained flat at $$0.18 on Wednesday. The stock has a 50-day simple moving average of $0.23 and a 200 day simple moving average of $0.28. Danakali has a 52-week low of $0.18 and a 52-week high of $0.42.

About Danakali (Get Rating)

Danakali Limited, together with its subsidiaries, engages in the exploration of minerals in Eritrea, East Africa. It focuses on the development of the Colluli potash project located in the Danakil Depression region of Eritrea. The company was formerly known as South Boulder Mines Ltd. and changed its name to Danakali Limited in June 2015.

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