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

5E Advanced Materials, Inc. (NASDAQ:FEAM) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 907,500 shares, a decline of 8.9% from the October 31st total of 996,000 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily volume of 109,200 shares, the days-to-cover ratio is currently 8.3 days.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FEAM shares. DA Davidson restated a “buy” rating and issued a $10.00 price target on shares of 5E Advanced Materials in a research note on Thursday, September 5th. Maxim Group cut their target price on 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.

5E Advanced Materials Price Performance

Shares of NASDAQ:FEAM traded up $0.03 during trading on Monday, reaching $0.48. 41,401 shares of the company traded hands, compared to its average volume of 160,133. The company’s 50 day moving average is $0.53 and its two-hundred day moving average is $0.88. The firm has a market capitalization of $32.86 million, a PE ratio of -0.44 and a beta of 1.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 35.91. 5E Advanced Materials has a 52 week low of $0.40 and a 52 week high of $2.48.

5E Advanced Materials (NASDAQ:FEAM) last posted its quarterly earnings results on Monday, September 9th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16).

Hedge Funds Weigh In On 5E Advanced Materials

A number of institutional investors have recently modified their holdings of FEAM. Cubist Systematic Strategies LLC acquired a new position in shares of 5E Advanced Materials during the 2nd quarter worth $83,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in 5E Advanced Materials in the 2nd quarter worth about $61,000. AQR Capital Management LLC acquired a new position in 5E Advanced Materials in the 2nd quarter worth about $27,000. Finally, Geode Capital Management LLC increased its holdings in 5E Advanced Materials by 11.8% in the 3rd quarter. Geode Capital Management LLC now owns 487,922 shares of the company’s stock worth $264,000 after purchasing an additional 51,668 shares in the last quarter.

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.