Snow Lake Resources Ltd. (NASDAQ:LITM) Short Interest Update

by · The Markets Daily

Snow Lake Resources Ltd. (NASDAQ:LITM – Get Free Report) saw a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 1,347,252 shares, an increase of 54.6% from the January 15th total of 871,562 shares. Approximately 8.6% of the company’s shares are short sold. Based on an average trading volume of 670,785 shares, the days-to-cover ratio is currently 2.0 days. Based on an average trading volume of 670,785 shares, the days-to-cover ratio is currently 2.0 days. Approximately 8.6% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Snow Lake Resources in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Snow Lake Resources currently has a consensus rating of “Sell”.

Read Our Latest Analysis on LITM

Snow Lake Resources Stock Up 4.8%

Shares of LITM traded up $0.14 during trading hours on Friday, reaching $3.05. The stock had a trading volume of 216,487 shares, compared to its average volume of 523,678. The company has a market cap of $54.99 million, a P/E ratio of -0.78 and a beta of 0.54. Snow Lake Resources has a 52 week low of $2.34 and a 52 week high of $10.38. The firm has a 50-day moving average of $3.40 and a 200 day moving average of $3.75.

Snow Lake Resources (NASDAQ:LITM – Get Free Report) last issued its quarterly earnings data on Friday, October 31st. The company reported ($0.69) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Snow Lake Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brave Asset Management Inc. bought a new position in shares of Snow Lake Resources during the fourth quarter worth about $30,000. Marex Group plc bought a new stake in shares of Snow Lake Resources in the fourth quarter worth $39,000. GSA Capital Partners LLP acquired a new position in Snow Lake Resources during the third quarter worth $69,000. LPL Financial LLC bought a new position in Snow Lake Resources in the fourth quarter valued at $52,000. Finally, Alps Advisors Inc. bought a new stake in Snow Lake Resources during the 4th quarter worth about $105,000. 0.24% of the stock is owned by institutional investors and hedge funds.

Snow Lake Resources Company Profile

(Get Free Report)

Snow Lake Resources Ltd. (NASDAQ: LITM) is a Vancouver-based exploration and development company specializing in lithium resources. The company’s principal asset, the Snow Lake Project, is located in Quebec’s Eeyou Istchee James Bay territory and adjacent parts of Manitoba, Canada. Snow Lake Resources is publicly traded on the Nasdaq Capital Market, where it pursues the advancement of its flagship spodumene deposit toward commercial production.

The Snow Lake Project holds a significant inferred and indicated lithium mineral resource hosted within pegmatite dykes.

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