Lithium Ionic Corp. (OTCMKTS:LTHCF) Sees Significant Drop in Short Interest

Lithium Ionic Corp. (OTCMKTS:LTHCF) saw a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 103,952 shares, a decline of 84.2% from the July 30th total of 658,994 shares. Based on an average daily volume of 69,634 shares, the days-to-cover ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets cut shares of Lithium Ionic from an “outperform” rating to a “market perform” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Lithium Ionic Stock Performance

LTHCF remained flat at $0.48 on Wednesday. 9,050 shares of the company traded hands, compared to its average volume of 24,911. The stock’s 50-day simple moving average is $0.47 and its two-hundred day simple moving average is $0.66. Lithium Ionic has a 12-month low of $0.27 and a 12-month high of $1.06.

Lithium Ionic Company Profile

Lithium Ionic Corp. engages in the acquisition, exploration, and development of mineral properties in Brazil. The company's flagship properties include a 100% ownership in the Itinga lithium project that comprises seven mineral licenses covering an area of approximately 1,300 hectares in the prolific Aracuai lithium province; and the Salinas project located in the northeastern part of Minas Gerais state. Lithium Ionic Corp. is headquartered in Toronto, Canada.