Nickel Industries (OTCMKTS:NICMF) Shares Down 9.6% – What’s Next?

Shares of Nickel Industries Limited (OTCMKTS:NICMF) were down 9.6% on Monday . The company traded as low as $0.6255 and last traded at $0.6255. Approximately 2,500 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 8,107 shares. The stock had previously closed at $0.6916.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued a “buy” rating on shares of Nickel Industries in a research note on Monday, February 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Nickel Industries currently has a consensus rating of “Buy”.

Nickel Industries Trading Down 9.6%

The stock’s fifty day moving average is $0.65 and its two-hundred day moving average is $0.53.

About Nickel Industries

Nickel Industries Limited is an Australia-based resources company focused on the development, construction and operation of battery-grade nickel processing assets in Indonesia. The company’s core business centers on the production of mixed hydroxide precipitate (MHP), a precursor material used in the manufacture of lithium-ion batteries for electric vehicles and energy storage systems.

The company owns and operates two high-pressure acid leach (HPAL) plants in Southeast Sulawesi. Its flagship Hengjaya Nickel project and the Ranger Nickel facility leverage Indonesia’s rich laterite nickel deposits to produce MHP for customers in Asia, Europe and North America.