NextSource Materials Inc. (OTCMKTS:NSRCF) Sees Significant Growth in Short Interest

NextSource Materials Inc. (OTCMKTS:NSRCF) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 98,300 shares, an increase of 47.8% from the May 15th total of 66,500 shares. Based on an average daily volume of 103,900 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets raised shares of NextSource Materials to a “hold” rating in a report on Tuesday, May 7th.

NextSource Materials Price Performance

NextSource Materials stock traded up $0.04 during trading hours on Friday, hitting $0.65. The company had a trading volume of 9,766 shares, compared to its average volume of 30,901. The firm has a market cap of $100.48 million, a PE ratio of -16.13 and a beta of 1.18. NextSource Materials has a one year low of $0.45 and a one year high of $1.65. The firm has a 50-day moving average of $0.56 and a 200 day moving average of $0.64.

NextSource Materials (OTCMKTS:NSRCF) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter.

About NextSource Materials

NextSource Materials Inc acquires, explores for, and develops mineral properties in Madagascar and Canada. The company primarily explores for graphite and vanadium deposits. Its flagship property is the 100% owned Molo graphite mine project located in the Southern Madagascar Region, Madagascar. The company was formerly known as Energizer Resources Inc The company was founded in 2004 and is headquartered in Toronto, Canada.