NioCorp Developments Sees Unusually High Options Volume (NASDAQ:NB)

NioCorp Developments Ltd. (NASDAQ:NB) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 7,435 call options on the stock. Thisrepresentsanincreaseofapproximately558% compared to the average volume of 1,130 call options.

NioCorp Developments Price Performance

NASDAQ NB opened at $4.03 on Thursday. NioCorp Developments has a fifty-two week low of $1.27 and a fifty-two week high of $4.44. The stock’s 50-day moving average is $2.86 and its two-hundred day moving average is $2.46. The firm has a market cap of $236.96 million, a P/E ratio of -11.85 and a beta of -0.35.

NioCorp Developments (NASDAQ:NB) last issued its quarterly earnings results on Friday, July 11th. The company reported ($0.16) earnings per share (EPS) for the quarter. On average, equities analysts expect that NioCorp Developments will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NB shares. HC Wainwright lowered their price objective on shares of NioCorp Developments from $4.25 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, July 3rd. Maxim Group lifted their price target on NioCorp Developments from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, July 11th.

Hedge Funds Weigh In On NioCorp Developments

Several institutional investors and hedge funds have recently added to or reduced their stakes in NB. Armistice Capital LLC bought a new stake in shares of NioCorp Developments in the 1st quarter worth approximately $2,573,000. Northern Trust Corp bought a new stake in shares of NioCorp Developments in the 4th quarter worth approximately $980,000. Jane Street Group LLC bought a new stake in shares of NioCorp Developments in the 4th quarter worth approximately $359,000. PFG Advisors lifted its position in shares of NioCorp Developments by 384.2% in the 1st quarter. PFG Advisors now owns 181,168 shares of the company’s stock worth $357,000 after acquiring an additional 143,750 shares during the period. Finally, CreativeOne Wealth LLC lifted its position in shares of NioCorp Developments by 76.0% in the 1st quarter. CreativeOne Wealth LLC now owns 29,983 shares of the company’s stock worth $59,000 after acquiring an additional 12,946 shares during the period. 4.03% of the stock is currently owned by institutional investors.

NioCorp Developments Company Profile

NioCorp Developments Ltd. engages in the exploration and development of mineral deposits in North America. It owns and develops the Elk Creek niobium/scandium/titanium project that owns one 226.43-acre parcel of land and associated mineral rights, and an additional 40 acres of mineral rights, as well as an optioned land package that covers an area of 1,396 acres located in Johnson County, southeast Nebraska.