Could SYRAH RESOURCES LTD ORDINARY SHARES (OTCMKTS:SYAAF) Go Up After Its Newest Short Interest Report?

September 30, 2018 - By Margaret Guttierez

Syrah Resources Limited (OTCMKTS:SYAAF) Logo

The stock of SYRAH RESOURCES LTD ORDINARY SHARES (OTCMKTS:SYAAF) registered an increase of 3.51% in short interest. SYAAF’s total short interest was 5.41 million shares in September as published by FINRA. Its up 3.51% from 5.23M shares, reported previously. With 50,000 shares average volume, it will take short sellers 108 days to cover their SYAAF’s short positions.

The stock increased 1.21% or $0.02 during the last trading session, reaching $1.67. About 12,700 shares traded. Syrah Resources Limited (OTCMKTS:SYAAF) has 0.00% since September 30, 2017 and is . It has underperformed by 15.62% the S&P500.

Syrah Resources Limited, together with its subsidiaries, engages in the exploration, evaluation, and development of mineral properties in Mozambique. The company has market cap of $575.47 million. The Company’s flagship project is the Balama Graphite and Vanadium project located in the Cabo Delgado province of northern Mozambique. It currently has negative earnings. The firm also produces spherical graphite through downstream strategy, which is used to manufacture anodes for lithium ion batteries; and natural graphite recarburisers that are used in the steel making and iron casting industries.

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