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

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

Institutional Investors Weigh In On Namib Minerals

An institutional investor recently raised its position in Namib Minerals stock. Polar Asset Management Partners Inc. increased its position in shares of Namib Minerals (NASDAQ:NAMM) by 14.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & 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. Institutional investors own 59.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

Namib Minerals Price Performance

NAMM opened at $1.04 on Tuesday. Namib Minerals has a one year low of $0.96 and a one year high of $55.00. The firm’s 50 day moving average is $1.50. The company has a market capitalization of $55.83 million, a PE ratio of -0.82 and a beta of -0.14.

About Namib Minerals

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.