Lithium Ionic Corp. (OTCMKTS:LTHCF) Stock Short Interest Drops 49.8%

Lithium Ionic Corp. (OTCMKTS:LTHCF) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 100,767 shares, a decrease of 49.8% from the September 30th total of 200,594 shares. Based on an average daily trading volume, of 12,421 shares, the short-interest ratio is presently 8.1 days.

Lithium Ionic Price Performance

Shares of Lithium Ionic stock remained flat at $0.28 during mid-day trading on Friday. 1,000 shares of the company were exchanged, compared to its average volume of 27,978. Lithium Ionic has a 1-year low of $0.27 and a 1-year high of $1.06. The company has a fifty day simple moving average of $0.39 and a 200-day simple moving average of $0.61.

Analyst Ratings Changes

Separately, BMO Capital Markets lowered Lithium Ionic from an “outperform” rating to a “market perform” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Hold rating. According to MarketBeat, the company currently has an average rating of “Hold”.

About Lithium Ionic

Lithium Ionic Corp. (OTCMKTS:LTHCF) is a Canadian mineral exploration and development company focused on lithium projects in Brazil. The company is advancing lithium-pegmatite properties in Minas Gerais, a region known as Brazil’s Lithium Valley and home to established lithium producers and developers.

Lithium Ionic’s principal assets include the Bandeira project and other exploration properties in the Itinga and Salinas regions of Minas Gerais. Its activities include geological mapping, drilling, resource evaluation, metallurgical testing and the assessment of potential development strategies for hard-rock lithium deposits.