Peninsula Energy Limited (OTCMKTS:PENMF) saw short interest rocket in June, up 450.2%. By June 15,short interest shot to 38,491 shares from 6,996 in May. Still, 0.0% of company shares are sold short.
Trading for Peninsula Energy was bumpy. Shares fell $0.03 to $0.26 on Friday. Volume hit 8,500 shares, much lower than average 27,277. Over last year,stock swung between $0.17 and $0.77.
Peninsula's stock moves with its focus on uranium mining, especially in-situ recovery (ISR) in U.S. The Lance Projects, its main asset,lie in Wyoming's Powder River Basin. Peninsula runs a central processing plant and wellfields here, under watch of U.S. Nuclear Regulatory Commission .
ISR method uses oxygenated water to pull uranium from subsurface sandstone aquifers. Uranium-rich solution gets processed at surface, purified into U3O8. Besides Lance,company holds rights for more deposits in Barnes Dome area, Wyoming.
Stock's 50-day simple moving average is $0.33,200-day is $0.43. Investors keep close eye on performance . Days-to-cover ratio, based on average volume of 58,174 shares,is 0.7 days. Short positions can be covered quickly .
As Peninsula Energy faces uranium market's twists, its stock stays in traders' sights,hinting at larger energy trends…
