General Moly, Inc. (NYSEAMERICAN:GMO) Sees Large Increase in Short Interest

General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) was the target of a significant increase in short interest in the month of February. As of February 14th, there was short interest totalling 124,800 shares, an increase of 50.0% from the January 30th total of 83,200 shares. Based on an average daily trading volume, of 213,700 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.2% of the shares of the stock are short sold.

A hedge fund recently raised its stake in General Moly stock. Lindbrook Capital LLC grew its stake in shares of General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) by 66.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 430,000 shares of the basic materials company’s stock after purchasing an additional 172,411 shares during the period. Lindbrook Capital LLC owned about 0.31% of General Moly worth $112,000 as of its most recent SEC filing.

Several equities research analysts have recently commented on GMO shares. Zacks Investment Research raised General Moly from a “hold” rating to a “buy” rating and set a $0.25 target price for the company in a report on Monday. HC Wainwright reaffirmed a “buy” rating and set a $0.75 target price on shares of General Moly in a report on Thursday, December 12th.

Shares of NYSEAMERICAN GMO remained flat at $$0.21 during mid-day trading on Wednesday. The stock had a trading volume of 268,300 shares, compared to its average volume of 231,011. General Moly has a twelve month low of $0.16 and a twelve month high of $0.45.

About General Moly

General Moly, Inc, together with its subsidiary, Eureka Moly, LLC, engages in the exploration, development, and mining of mineral properties in the United States. The company explores for molybdenum and copper deposits. It primarily has an 80% interests in the Mt. Hope project consisting of 13 patented lode claims and 1 mill site claim with proven and probable molybdenum reserves totaling approximately 1.4 billion pounds located in Eureka County, Nevada.

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