Namib Minerals (NASDAQ:NAMM) Short Interest Update

Namib Minerals (NASDAQ:NAMM) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totaling 669,278 shares, a drop of 25.6% from the March 31st total of 899,545 shares. Based on an average daily trading volume, of 414,226 shares, the short-interest ratio is currently 1.6 days. Currently, 1.8% of the shares of the stock are short sold.

Hedge Funds Weigh In On Namib Minerals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new position in Namib Minerals in the third quarter valued at $63,000. Polar Asset Management Partners Inc. lifted its holdings in Namib Minerals by 14.8% in the third quarter. Polar Asset Management Partners Inc. now owns 1,346,001 shares of the company’s stock valued at $4,428,000 after buying an additional 173,899 shares during the period. Finally, Lineage Point Capital LP acquired a new position in Namib Minerals in the fourth quarter valued at $130,000. Institutional investors and hedge funds own 59.54% of the company’s stock.

Namib Minerals Stock Performance

Shares of NASDAQ:NAMM traded up $0.04 during mid-day trading on Friday, reaching $2.00. 262,743 shares of the company’s stock were exchanged, compared to its average volume of 455,405. The firm has a market capitalization of $108.16 million, a price-to-earnings ratio of -1.57 and a beta of 0.06. The business’s fifty day moving average price is $2.56 and its 200-day moving average price is $2.17. Namib Minerals has a twelve month low of $0.91 and a twelve month high of $55.00.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NAMM shares. Zacks Research upgraded shares of Namib Minerals from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Namib Minerals in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Namib Minerals from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Namib Minerals has an average rating of “Reduce”.

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.