Surge Battery Metals Inc. (OTCMKTS:NILIF) Sees Large Growth in Short Interest

Surge Battery Metals Inc. (OTCMKTS:NILIF) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 56,956 shares, an increase of 78.7% from the September 30th total of 31,868 shares. Based on an average daily volume of 240,488 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the company’s stock are short sold.

Surge Battery Metals Stock Performance

Shares of OTCMKTS:NILIF traded down $0.04 during mid-day trading on Friday, hitting $0.43. 105,307 shares of the company traded hands, compared to its average volume of 106,547. The firm’s 50 day simple moving average is $0.56 and its 200 day simple moving average is $0.51. The firm has a market cap of $142.72 million, a P/E ratio of -10.84 and a beta of 1.76. Surge Battery Metals has a 52-week low of $0.27 and a 52-week high of $0.80.

Surge Battery Metals (OTCMKTS:NILIF) last released its quarterly earnings results on Friday, August 28th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Equities research analysts expect that Surge Battery Metals will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Zacks Research lowered Surge Battery Metals from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Surge Battery Metals Company Profile

Surge Battery Metals Inc is a Canadian mineral exploration and development company focused on advancing battery-metal projects in North America. The company’s principal asset is the Nevada North Lithium Project, a lithium claystone project located in Elko County, Nevada.

Surge is evaluating the project as a potential source of lithium for use in rechargeable batteries and electric vehicles. Its activities include mineral exploration, drilling, resource evaluation, metallurgical testing and technical studies intended to assess the project’s development potential.