Nickel Industries (OTCMKTS:NICMF) Shares Up 1.4% – Should You Buy?

Nickel Industries Limited (OTCMKTS:NICMF) shares shot up 1.4% during mid-day trading on Wednesday . The company traded as high as $0.70 and last traded at $0.70. 500 shares traded hands during trading, a decline of 94% from the average session volume of 9,090 shares. The stock had previously closed at $0.69.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “buy” rating on shares of Nickel Industries in a research report on Monday, February 16th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Nickel Industries Trading Up 1.4%

The company has a fifty day moving average of $0.66 and a two-hundred day moving average of $0.57.

About Nickel Industries

Nickel Industries Limited is an Australia-based resources company focused on the development, construction and operation of battery-grade nickel processing assets in Indonesia. The company’s core business centers on the production of mixed hydroxide precipitate (MHP), a precursor material used in the manufacture of lithium-ion batteries for electric vehicles and energy storage systems.

The company owns and operates two high-pressure acid leach (HPAL) plants in Southeast Sulawesi. Its flagship Hengjaya Nickel project and the Ranger Nickel facility leverage Indonesia’s rich laterite nickel deposits to produce MHP for customers in Asia, Europe and North America.