Namib Minerals (NASDAQ:NAMM) Short Interest Down 25.6% in April

Namib Minerals (NASDAQ:NAMM) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 669,278 shares, a decrease 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. Approximately 1.8% of the shares of the stock are short sold.

Namib Minerals Stock Down 6.9%

Shares of NAMM stock traded down $0.14 during trading on Wednesday, hitting $1.88. The company had a trading volume of 392,083 shares, compared to its average volume of 7,523,928. The stock’s 50-day moving average is $2.60 and its two-hundred day moving average is $2.17. The stock has a market capitalization of $101.68 million, a price-to-earnings ratio of -1.48 and a beta of 0.21. Namib Minerals has a 52 week low of $0.91 and a 52 week high of $55.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Millennium Management LLC bought a new position in shares of Namib Minerals in the third quarter worth approximately $63,000. Lineage Point Capital LP bought a new position in shares of Namib Minerals in the fourth quarter worth approximately $130,000. Finally, Polar Asset Management Partners Inc. increased its position in shares of 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 worth $4,428,000 after purchasing an additional 173,899 shares during the last quarter. 59.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NAMM shares. Zacks Research upgraded 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 research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Namib Minerals from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Namib Minerals presently 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.