Nickel Industries Limited (OTCMKTS:NICMF) Sees Significant Decrease in Short Interest

Nickel Industries Limited (OTCMKTS:NICMF) was the recipient of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 694,019 shares, a decrease of 44.9% from the July 30th total of 1,259,187 shares. Based on an average daily trading volume, of 260 shares, the days-to-cover ratio is currently 2,669.3 days.

Nickel Industries Stock Performance

Shares of OTCMKTS:NICMF remained flat at $0.62 on Friday. The business has a fifty day simple moving average of $0.60 and a 200 day simple moving average of $0.66. Nickel Industries has a 12-month low of $0.42 and a 12-month high of $0.80.

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.