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

Surge Battery Metals Inc. (OTCMKTS:NILIF) saw a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 260,359 shares, an increase of 357.1% from the October 15th total of 56,956 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 142,752 shares, the short-interest ratio is presently 1.8 days.

Analyst Ratings Changes

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

Surge Battery Metals Stock Performance

OTCMKTS NILIF opened at $0.37 on Friday. The company has a fifty day simple moving average of $0.51 and a 200 day simple moving average of $0.50. The company has a market cap of $121.32 million, a P/E ratio of -9.22 and a beta of 1.86. Surge Battery Metals has a 12-month low of $0.27 and a 12-month high of $0.80.

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

Surge Battery Metals Company Profile

Surge Battery Metals Inc. is a mineral exploration company focused on identifying and advancing lithium resources for the battery materials market. The company explores for lithium-bearing deposits and does not manufacture batteries or produce lithium products. Its projects include the Nevada North Lithium Project in Elko County, Nevada, where exploration has focused on lithium-rich claystone, and the San Emidio Lithium Project in Nevada. The company’s activities include mineral exploration and resource evaluation.