Namib Minerals (NASDAQ:NAMM) Short Interest Down 15.2% in March
by Michael Walen · The Markets DailyNamib Minerals (NASDAQ:NAMM – Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 899,545 shares, a decrease of 15.2% from the March 15th total of 1,060,244 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 735,435 shares, the short-interest ratio is presently 1.2 days.
Namib Minerals Trading Up 1.4%
NASDAQ:NAMM traded up $0.03 during trading hours on Friday, hitting $2.12. The company had a trading volume of 837,502 shares, compared to its average volume of 531,931. The company has a 50-day moving average of $2.67 and a 200 day moving average of $2.24. The company has a market cap of $114.65 million, a P/E ratio of -1.67 and a beta of 0.21. Namib Minerals has a 1 year low of $0.91 and a 1 year high of $55.00.
Institutional Trading of Namib Minerals
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lineage Point Capital LP purchased a new stake in Namib Minerals in the 4th quarter valued at about $130,000. Polar Asset Management Partners Inc. boosted its position in shares of Namib Minerals by 14.8% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 1,346,001 shares of the company’s stock worth $4,428,000 after purchasing an additional 173,899 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Namib Minerals during the 3rd quarter worth approximately $63,000. 59.54% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on NAMM. Wall Street Zen upgraded Namib Minerals from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Zacks Research upgraded Namib Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Namib Minerals in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.
Read Our Latest Analysis on Namib Minerals
Namib Minerals Company Profile
Namib Minerals Ltd, traded on the Nasdaq under the symbol NAMM, is a mineral exploration and development company focused on identifying and advancing critical mineral deposits in Namibia. The company’s primary business activities include geological surveying, core drilling programs and resource estimation to define lithium, tantalum and other battery-grade mineral targets. Namib Minerals aims to leverage Namibia’s stable mining jurisdiction to develop projects that support the growing demand for high-purity minerals in the global electric vehicle and energy storage markets.
Headquartered in Windhoek, Namibia, the company’s exploration portfolio lies within recognized mineral belts known for lithium and associated rare elements.