Nickel Industries (OTCMKTS:NICMF) Shares Down 9.6% – What’s Next?

Nickel Industries Limited (OTCMKTS:NICMF) shares dropped 9.6% during mid-day trading on Monday . The stock traded as low as $0.6255 and last traded at $0.6255. Approximately 2,500 shares traded hands during trading, a decline of 69% from the average daily volume of 8,107 shares. The stock had previously closed at $0.6916.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “buy” rating on shares of Nickel Industries in a research note on Monday, February 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Nickel Industries currently has a consensus rating of “Buy”.

Nickel Industries Stock Up 3.9%

The stock has a 50 day moving average price of $0.65 and a 200-day moving average price of $0.54.

Nickel Industries Company Profile

Nickel Industries Limited is an Australia-based resources company focused on the development, construction and operation of battery-grade nickel processing assets in Indonesia. The company’s core business centers on the production of mixed hydroxide precipitate (MHP), a precursor material used in the manufacture of lithium-ion batteries for electric vehicles and energy storage systems.

The company owns and operates two high-pressure acid leach (HPAL) plants in Southeast Sulawesi. Its flagship Hengjaya Nickel project and the Ranger Nickel facility leverage Indonesia’s rich laterite nickel deposits to produce MHP for customers in Asia, Europe and North America.