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

Pilbara Minerals Limited (OTCMKTS:PILBFGet Rating) saw a significant growth in short interest in the month of 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 daily volume of 216,900 shares, the short-interest ratio is currently 7.9 days.

A number of research firms recently issued reports on PILBF. JPMorgan Chase & Co. upgraded shares of Pilbara Minerals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 5th. Citigroup upgraded shares of Pilbara Minerals from a “neutral” rating to a “buy” rating and set a $3.60 target price for the company in a research report on Thursday, April 14th.

Shares of Pilbara Minerals stock traded down $0.03 during trading hours on Friday, reaching $1.40. The stock had a trading volume of 143,611 shares, compared to its average volume of 185,080. The stock’s 50 day moving average is $1.93 and its 200 day moving average is $2.12. Pilbara Minerals has a twelve month low of $0.99 and a twelve month high of $2.85.

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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