Short Interest in Namib Minerals (NASDAQ:NAMM) Declines By 20.7%

Namib Minerals (NASDAQ:NAMM) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 275,388 shares, a decrease of 20.7% from the November 30th total of 347,244 shares. Based on an average daily volume of 143,068 shares, the short-interest ratio is presently 1.9 days. Currently, 0.7% of the shares of the company are sold short. Currently, 0.7% of the shares of the company are sold short. Based on an average daily volume of 143,068 shares, the short-interest ratio is presently 1.9 days.

Institutional Investors Weigh In On Namib Minerals

A hedge fund recently raised its stake in Namib Minerals stock. Polar Asset Management Partners Inc. increased its position in Namib Minerals (NASDAQ:NAMM) by 14.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,346,001 shares of the company’s stock after acquiring an additional 173,899 shares during the quarter. Polar Asset Management Partners Inc. owned about 2.51% of Namib Minerals worth $4,428,000 at the end of the most recent quarter. 59.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Namib Minerals in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Namib Minerals Stock Performance

Shares of Namib Minerals stock traded down $0.04 during trading hours on Wednesday, reaching $1.01. The company had a trading volume of 90,675 shares, compared to its average volume of 149,027. Namib Minerals has a one year low of $0.96 and a one year high of $55.00. The company has a market cap of $54.22 million, a price-to-earnings ratio of -0.80 and a beta of -0.14. The business has a fifty day moving average price of $1.44.

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.