Almonty Industries Inc. (NASDAQ:ALM) Short Interest Up 115.4% in June

Almonty Industries Inc. (NASDAQ:ALM) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totaling 8,885,144 shares, an increase of 115.4% from the May 31st total of 4,124,241 shares. Based on an average trading volume of 6,105,704 shares, the days-to-cover ratio is presently 1.5 days. Approximately 3.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Leonteq Securities AG purchased a new stake in shares of Almonty Industries during the 1st quarter worth approximately $29,000. FNY Investment Advisers LLC bought a new position in Almonty Industries during the third quarter valued at $30,000. Global Retirement Partners LLC bought a new position in Almonty Industries during the fourth quarter valued at $35,000. Rockefeller Capital Management L.P. increased its position in Almonty Industries by 30.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Almonty Industries in the fourth quarter worth $41,000.

Almonty Industries Stock Performance

Shares of Almonty Industries stock traded down $0.02 during trading hours on Wednesday, hitting $16.54. 864,809 shares of the company’s stock traded hands, compared to its average volume of 5,319,858. The stock has a market capitalization of $4.72 billion and a price-to-earnings ratio of -33.48. Almonty Industries has a 12-month low of $3.16 and a 12-month high of $24.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37. The company has a fifty day simple moving average of $19.09 and a 200-day simple moving average of $15.67.

Almonty Industries (NASDAQ:ALM) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. The company had revenue of $18.52 million during the quarter, compared to analyst estimates of $15.44 million. Equities research analysts anticipate that Almonty Industries will post 0.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALM has been the topic of a number of recent analyst reports. DA Davidson reissued a “buy” rating and set a $25.00 price target on shares of Almonty Industries in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Almonty Industries in a research report on Thursday, June 18th. Texas Capital upgraded shares of Almonty Industries to a “strong-buy” rating in a research note on Thursday, April 16th. B. Riley Financial boosted their target price on Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Finally, Oppenheimer boosted their target price on Almonty Industries from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.88.

About Almonty Industries

Almonty Industries is a Canada-based mining company focused on the production, development and acquisition of tungsten assets. The company’s principal business activity is the mining and processing of tungsten-bearing ore to produce tungsten concentrates for industrial customers. Almonty pursues both operating mines and advanced-stage development projects with the objective of supplying a critical raw material used in hardmetals, tooling, drilling and other industrial applications.

Almonty’s asset footprint has historically included operating and development projects in Europe and Asia.