Snow Lake Resources Ltd. (NASDAQ:LITM) Sees Large Growth in Short Interest

Snow Lake Resources Ltd. (NASDAQ:LITM) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,090,000 shares, an increase of 393.2% from the May 15th total of 221,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the short-interest ratio is currently 1.0 days. Approximately 14.1% of the company’s shares are sold short.

Snow Lake Resources Stock Performance

LITM stock opened at $3.41 on Friday. The business has a fifty day simple moving average of $4.35 and a 200-day simple moving average of $6.57. Snow Lake Resources has a 52 week low of $1.98 and a 52 week high of $24.44.

Snow Lake Resources (NASDAQ:LITM) last announced its quarterly earnings results on Thursday, April 10th. The company reported ($0.13) earnings per share for the quarter.

Institutional Trading of Snow Lake Resources

A number of institutional investors have recently added to or reduced their stakes in the business. United Capital Management of KS Inc. boosted its position in Snow Lake Resources by 100.0% during the 1st quarter. United Capital Management of KS Inc. now owns 70,000 shares of the company’s stock worth $36,000 after purchasing an additional 35,000 shares during the period. Jane Street Group LLC purchased a new stake in Snow Lake Resources during the 4th quarter worth $158,000. Two Sigma Securities LLC boosted its position in Snow Lake Resources by 81.7% during the 4th quarter. Two Sigma Securities LLC now owns 44,635 shares of the company’s stock worth $43,000 after purchasing an additional 20,069 shares during the period. XTX Topco Ltd purchased a new stake in Snow Lake Resources during the 4th quarter worth $72,000. Finally, Renaissance Technologies LLC boosted its position in Snow Lake Resources by 284.8% during the 4th quarter. Renaissance Technologies LLC now owns 43,100 shares of the company’s stock worth $41,000 after purchasing an additional 31,900 shares during the period. 0.24% of the stock is owned by hedge funds and other institutional investors.

Snow Lake Resources Company Profile

Snow Lake Resources Ltd., a natural resource exploration company, engages in the exploration and development of mineral resources in Canada. The company explores for lithium mineral resources. Its flagship property is the Thomson Brothers and Grass River lithium projects located to Crowduck Bay Fault region.