Osisko Development Corp. (NYSE:ODV) Short Interest Down 38.0% in March

Osisko Development Corp. (NYSE:ODV) saw a large decrease in short interest in March. As of March 13th, there was short interest totaling 6,649,837 shares, a decrease of 38.0% from the February 26th total of 10,732,826 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily trading volume, of 2,882,001 shares, the days-to-cover ratio is presently 2.3 days.

Hedge Funds Weigh In On Osisko Development

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in Osisko Development during the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Osisko Development during the 4th quarter valued at $26,000. Bruce G. Allen Investments LLC bought a new position in shares of Osisko Development in the third quarter worth $32,000. Purpose Unlimited Inc. bought a new position in shares of Osisko Development in the fourth quarter worth $34,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Osisko Development in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 15.16% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Osisko Development in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Osisko Development has a consensus rating of “Moderate Buy”.

Osisko Development Price Performance

NYSE ODV traded up $0.03 during trading hours on Friday, hitting $2.89. The company had a trading volume of 1,110,629 shares, compared to its average volume of 2,898,617. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.31. The firm has a market capitalization of $879.07 million, a price-to-earnings ratio of -2.62 and a beta of 0.55. Osisko Development has a 52 week low of $1.36 and a 52 week high of $4.80. The firm has a 50 day simple moving average of $3.78 and a 200 day simple moving average of $3.53.

Osisko Development Company Profile

Osisko Development Corp. is a Canadian mineral exploration and development company focused on advancing a portfolio of high-quality precious and base metal projects in stable jurisdictions. The company’s strategy centers on the acquisition, exploration, and development of gold, zinc and lead deposits that offer the potential for scalable, long-life operations. Headquartered in Montreal, Quebec, Osisko Development operates primarily across Western Canada.

The company’s flagship asset is the Cariboo gold project in central British Columbia, where it is engaged in step-out drilling, resource definition and permitting activities aimed at building a robust mineral inventory.