IGO Limited (OTCMKTS:IPGDF) Short Interest Up 395.6% in April

IGO Limited (OTCMKTS:IPGDF) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 579,613 shares, an increase of 395.6% from the April 15th total of 116,951 shares. Based on an average trading volume of 249 shares, the days-to-cover ratio is currently 2,327.8 days.

IGO Stock Up 34.3%

IGO stock opened at $6.50 on Wednesday. IGO has a 1-year low of $2.35 and a 1-year high of $6.74. The firm’s 50 day simple moving average is $5.63 and its 200 day simple moving average is $5.26.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued an “underperform” rating on shares of IGO in a research report on Monday, February 16th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce”.

IGO Company Profile

IGO Limited, trading as IPGDF on the OTC Markets, is an Australian-based diversified mining and metals company with a strategic focus on battery-cycle commodities and precious metals. Originally founded as Independence Group NL in 1997, the company rebranded to IGO Limited in 2018 to reflect its evolving portfolio. IGO’s operations span the extraction, processing and marketing of key industrial minerals and metals that underpin the global energy transition.

The company’s core asset portfolio includes the Nova nickel–copper–cobalt operation in Western Australia, which produces mixed sulphide concentrate; a 50% interest in the Tropicana gold joint venture; and the Kwinana Nickel Refinery, which refines concentrate into battery-grade nickel products.