5E Advanced Materials, Inc. (NASDAQ:FEAM) Sees Significant Increase in Short Interest

5E Advanced Materials, Inc. (NASDAQ:FEAM) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 824,826 shares, an increase of 73.9% from the September 30th total of 474,410 shares. Based on an average daily volume of 1,183,526 shares, the days-to-cover ratio is currently 0.7 days. Currently, 2.0% of the shares of the stock are sold short.

5E Advanced Materials Stock Performance

NASDAQ:FEAM opened at $2.24 on Wednesday. The business has a 50 day moving average of $2.44 and a 200 day moving average of $1.93. 5E Advanced Materials has a 1-year low of $0.90 and a 1-year high of $4.91.

5E Advanced Materials (NASDAQ:FEAM) last issued its earnings results on Thursday, September 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.18.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FEAM. Wall Street Zen raised shares of 5E Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Weiss Ratings raised 5E Advanced Materials from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. Finally, HC Wainwright increased their target price on 5E Advanced Materials from $3.50 to $6.75 and gave the company a “buy” rating in a research note on Monday, October 5th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, 5E Advanced Materials presently has a consensus rating of “Hold” and a consensus target price of $6.75.

Insider Buying and Selling

In related news, Director Graham van’t Hoff purchased 60,000 shares of the business’s stock in a transaction on Thursday, October 8th. The stock was acquired at an average price of $3.59 per share, with a total value of $215,400.00. Following the purchase, the director directly owned 102,997 shares in the company, valued at approximately $369,759.23. This represents a 139.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 5E Advanced Materials

A number of hedge funds have recently made changes to their positions in the business. AWM Investment Company Inc. bought a new position in shares of 5E Advanced Materials during the 2nd quarter valued at $4,346,000. Aristides Capital LLC bought a new stake in 5E Advanced Materials in the first quarter worth $765,000. Renaissance Technologies LLC bought a new stake in 5E Advanced Materials in the first quarter worth $268,000. T3 Companies LLC purchased a new stake in 5E Advanced Materials during the third quarter valued at about $514,000. Finally, Woodward Diversified Capital LLC boosted its position in 5E Advanced Materials by 59.9% during the third quarter. Woodward Diversified Capital LLC now owns 79,400 shares of the company’s stock valued at $268,000 after buying an additional 29,750 shares during the period.

About 5E Advanced Materials

5E Advanced Materials, Inc is a critical materials company focused on developing domestic sources of boron and lithium. The company’s primary asset is the Fort Cady borate project in the Mojave Desert of Southern California, which it is advancing as a potential source of boric acid, lithium carbonate and other boron-based products.

Boron is used in applications including high-strength materials, glass and ceramics, agriculture, clean-energy technologies and defense-related products. Lithium carbonate is a key material used in the production of lithium-ion batteries.