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

Lithium Ionic Corp. (OTCMKTS:LTHCF) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 200,594 shares, a growth of 142.6% from the September 15th total of 82,673 shares. Based on an average daily trading volume, of 81,521 shares, the days-to-cover ratio is presently 2.5 days.

Lithium Ionic Price Performance

Shares of OTCMKTS LTHCF remained flat at $0.43 during midday trading on Wednesday. 10,013 shares of the stock were exchanged, compared to its average volume of 28,376. The business’s 50 day moving average is $0.41 and its 200-day moving average is $0.58. Lithium Ionic has a 52 week low of $0.27 and a 52 week high of $1.06.

Analysts Set New Price Targets

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

About Lithium Ionic

Lithium Ionic Corp. is a Canadian mineral exploration and development company focused on advancing lithium projects in Brazil. The company’s primary objective is to discover and develop hard-rock lithium deposits that may support future production of spodumene concentrate, a key raw material used in the manufacture of lithium-ion batteries.

The company’s principal assets are located in Minas Gerais, Brazil, within the Jequitinhonha Valley, a region known for its lithium-bearing pegmatites and established mining infrastructure.