Short Interest in 5E Advanced Materials, Inc. (NASDAQ:FEAM) Drops By 5.1%

5E Advanced Materials, Inc. (NASDAQ:FEAM) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 996,000 shares, a drop of 5.1% from the October 15th total of 1,050,000 shares. Based on an average daily trading volume, of 112,000 shares, the days-to-cover ratio is currently 8.9 days. Currently, 2.0% of the shares of the company are short sold.

Hedge Funds Weigh In On 5E Advanced Materials

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in shares of 5E Advanced Materials in the second quarter valued at approximately $27,000. Bleakley Financial Group LLC bought a new stake in 5E Advanced Materials during the 1st quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in 5E Advanced Materials during the 2nd quarter worth $61,000. Cubist Systematic Strategies LLC acquired a new position in 5E Advanced Materials during the 2nd quarter worth $83,000. Finally, Geode Capital Management LLC raised its stake in shares of 5E Advanced Materials by 11.8% during the third quarter. Geode Capital Management LLC now owns 487,922 shares of the company’s stock valued at $264,000 after purchasing an additional 51,668 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on FEAM shares. Maxim Group cut 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 report on Thursday, September 12th. DA Davidson reissued a “buy” rating and set a $10.00 price target on shares of 5E Advanced Materials in a report on Thursday, September 5th.

5E Advanced Materials Stock Up 2.2 %

Shares of FEAM opened at $0.47 on Monday. 5E Advanced Materials has a fifty-two week low of $0.40 and a fifty-two week high of $2.48. The company’s fifty day moving average is $0.53 and its two-hundred day moving average is $0.95. The firm has a market cap of $32.37 million, a PE ratio of -0.42 and a beta of 1.92. The company has a quick ratio of 0.70, a current ratio of 1.08 and a debt-to-equity ratio of 35.91.

5E Advanced Materials (NASDAQ:FEAM) last posted its earnings results on Monday, September 9th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.16). Analysts forecast that 5E Advanced Materials will post -0.4 earnings per share for the current year.

About 5E Advanced Materials

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.