Short Interest in Almonty Industries Inc. (NASDAQ:ALM) Increases By 115.4%

Almonty Industries Inc. (NASDAQ:ALM) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 8,885,144 shares, a growth of 115.4% from the May 31st total of 4,124,241 shares. Based on an average trading volume of 6,105,704 shares, the short-interest ratio is presently 1.5 days. Approximately 3.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Almonty Industries

A number of institutional investors have recently added to or reduced their stakes in ALM. Leonteq Securities AG bought a new position in Almonty Industries during the first quarter valued at about $29,000. Global Retirement Partners LLC bought a new stake in shares of Almonty Industries in the 4th quarter worth approximately $35,000. Rockefeller Capital Management L.P. grew its holdings in shares of Almonty Industries by 30.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,333 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. State of Wyoming acquired a new stake in shares of Almonty Industries during the 4th quarter worth approximately $41,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Almonty Industries during the 3rd quarter worth approximately $30,000.

Almonty Industries Price Performance

NASDAQ:ALM opened at $15.95 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.37. Almonty Industries has a one year low of $3.16 and a one year high of $24.41. The company has a fifty day moving average price of $18.94 and a 200 day moving average price of $15.74. The stock has a market cap of $4.55 billion and a P/E ratio of -31.90.

Almonty Industries (NASDAQ:ALM) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Almonty Industries had a negative net margin of 262.29% and a negative return on equity of 11.01%. The company had revenue of $18.52 million for the quarter, compared to analyst estimates of $15.44 million. Analysts anticipate that Almonty Industries will post 0.46 earnings per share for the current year.

Analysts Set New Price Targets

ALM has been the topic of several research analyst reports. Oppenheimer raised their price target on Almonty Industries from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. B. Riley Financial boosted their price objective on Almonty Industries from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Almonty Industries in a research note on Thursday, June 18th. Texas Capital raised Almonty Industries to a “strong-buy” rating in a report on Thursday, April 16th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $25.00 price target on shares of Almonty Industries in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Almonty Industries has a consensus rating of “Moderate Buy” and a consensus target price of $19.88.

About Almonty Industries

Almonty Industries is a Canada-based mining company focused on the production, development and acquisition of tungsten assets. The company’s principal business activity is the mining and processing of tungsten-bearing ore to produce tungsten concentrates for industrial customers. Almonty pursues both operating mines and advanced-stage development projects with the objective of supplying a critical raw material used in hardmetals, tooling, drilling and other industrial applications.

Almonty’s asset footprint has historically included operating and development projects in Europe and Asia.