5E Advanced Materials, Inc. (NASDAQ:FEAM) Sees Significant Decrease in Short Interest

5E Advanced Materials, Inc. (NASDAQ:FEAM) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totalling 1,430,000 shares, a drop of 8.9% from the August 31st total of 1,570,000 shares. Currently, 2.9% of the company’s shares are short sold. Based on an average daily volume of 174,400 shares, the days-to-cover ratio is currently 8.2 days.

5E Advanced Materials Stock Up 14.7 %

5E Advanced Materials stock traded up $0.08 during trading hours on Tuesday, hitting $0.62. The company had a trading volume of 561,075 shares, compared to its average volume of 175,102. 5E Advanced Materials has a fifty-two week low of $0.40 and a fifty-two week high of $3.35. The company has a debt-to-equity ratio of 6.37, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $39.20 million, a P/E ratio of -0.48 and a beta of 1.96. The firm’s fifty day moving average is $0.73 and its 200-day moving average is $1.11.

Hedge Funds Weigh In On 5E Advanced Materials

A number of hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new position in 5E Advanced Materials in the second quarter valued at about $83,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of 5E Advanced Materials during the 2nd quarter valued at about $61,000. Leo Wealth LLC bought a new stake in shares of 5E Advanced Materials in the 4th quarter valued at approximately $60,000. Bleakley Financial Group LLC bought a new position in 5E Advanced Materials during the first quarter valued at approximately $42,000. Finally, AQR Capital Management LLC bought a new position in 5E Advanced Materials during the second quarter valued at approximately $27,000.

Analysts Set New Price Targets

Several research analysts have commented on the stock. DA Davidson reiterated a “buy” rating and issued a $10.00 target price on shares of 5E Advanced Materials in a report on Thursday, September 5th. Maxim Group decreased their price objective on shares of 5E Advanced Materials from $4.00 to $1.25 and set a “buy” rating for the company in a research note on Thursday, September 12th.

5E Advanced Materials Company Profile

5E Advanced Materials, Inc engages in the exploration and development of mineral properties in Australia and the United States. The company primarily explores for borates and lithium deposits. It holds 100% interest in the Fort Cady project located in the Mojave Desert region in eastern San Bernardino County, California.