Snow Lake Resources Ltd. (NASDAQ:LITM) Sees Large Increase in Short Interest

Snow Lake Resources Ltd. (NASDAQ:LITM) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,090,000 shares, an increase of 393.2% from the May 15th total of 221,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the short-interest ratio is presently 1.0 days. Approximately 14.1% of the shares of the company are short sold.

Snow Lake Resources Stock Performance

NASDAQ:LITM opened at $3.58 on Thursday. Snow Lake Resources has a 12-month low of $1.98 and a 12-month high of $24.44. The business has a 50 day simple moving average of $4.42 and a 200 day simple moving average of $6.55.

Snow Lake Resources (NASDAQ:LITM) last announced its quarterly earnings results on Thursday, April 10th. The company reported ($0.13) earnings per share (EPS) for the quarter.

Institutional Trading of Snow Lake Resources

Several hedge funds have recently bought and sold shares of the company. Two Sigma Securities LLC grew its position in Snow Lake Resources by 81.7% in the 4th quarter. Two Sigma Securities LLC now owns 44,635 shares of the company’s stock worth $43,000 after purchasing an additional 20,069 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Snow Lake Resources by 284.8% during the fourth quarter. Renaissance Technologies LLC now owns 43,100 shares of the company’s stock worth $41,000 after buying an additional 31,900 shares during the period. United Capital Management of KS Inc. boosted its position in shares of Snow Lake Resources by 100.0% during the first quarter. United Capital Management of KS Inc. now owns 70,000 shares of the company’s stock worth $36,000 after buying an additional 35,000 shares during the period. Virtu Financial LLC grew its holdings in Snow Lake Resources by 308.7% in the 4th quarter. Virtu Financial LLC now owns 66,576 shares of the company’s stock worth $64,000 after buying an additional 50,285 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Snow Lake Resources in the 4th quarter worth approximately $72,000. 0.24% of the stock is currently owned by institutional investors.

Snow Lake Resources Company Profile

Snow Lake Resources Ltd., a natural resource exploration company, engages in the exploration and development of mineral resources in Canada. The company explores for lithium mineral resources. Its flagship property is the Thomson Brothers and Grass River lithium projects located to Crowduck Bay Fault region.