Lithium Ionic Corp. (OTCMKTS:LTHCF) Stock Short Interest Drops 49.8%

Lithium Ionic Corp. (OTCMKTS:LTHCF) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 100,767 shares, a decline of 49.8% from the September 30th total of 200,594 shares. Based on an average trading volume of 12,421 shares, the days-to-cover ratio is presently 8.1 days.

Lithium Ionic Stock Performance

OTCMKTS:LTHCF remained flat at $0.28 during trading hours on Friday. The company’s stock had a trading volume of 1,000 shares, compared to its average volume of 27,978. The company’s fifty day moving average is $0.39 and its 200 day moving average is $0.61. Lithium Ionic has a 12-month low of $0.27 and a 12-month high of $1.06.

Analyst Ratings Changes

Separately, BMO Capital Markets lowered Lithium Ionic from an “outperform” rating to a “market perform” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Lithium Ionic Company Profile

Lithium Ionic Corp. (OTCMKTS:LTHCF) is a Canadian mineral exploration and development company focused on lithium projects in Brazil. The company is advancing lithium-pegmatite properties in Minas Gerais, a region known as Brazil’s Lithium Valley and home to established lithium producers and developers.

Lithium Ionic’s principal assets include the Bandeira project and other exploration properties in the Itinga and Salinas regions of Minas Gerais. Its activities include geological mapping, drilling, resource evaluation, metallurgical testing and the assessment of potential development strategies for hard-rock lithium deposits.