Namib Minerals (NASDAQ:NAMM) Short Interest Update

Namib Minerals (NASDAQ:NAMM) saw a significant decrease in short interest in August. As of August 31st, there was short interest totaling 87,146 shares, a decrease of 56.0% from the August 15th total of 197,931 shares. Based on an average daily volume of 565,232 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. raised its position in shares of Namib Minerals by 14.8% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 1,346,001 shares of the company’s stock worth $4,428,000 after acquiring an additional 173,899 shares in the last quarter. Lineage Point Capital LP purchased a new position in Namib Minerals in the fourth quarter valued at about $130,000. Millennium Management LLC purchased a new position in Namib Minerals in the third quarter valued at about $63,000. Finally, State of Wyoming bought a new position in Namib Minerals in the first quarter worth about $31,000. 59.54% of the stock is currently owned by hedge funds and other institutional investors.

Namib Minerals Stock Performance

NASDAQ:NAMM traded down $0.07 during trading hours on Monday, reaching $1.27. The company’s stock had a trading volume of 267,452 shares, compared to its average volume of 3,979,887. The company has a market capitalization of $68.95 million, a P/E ratio of -1.33 and a beta of -0.03. Namib Minerals has a 12 month low of $0.91 and a 12 month high of $7.42. The stock has a 50 day moving average price of $1.44 and a two-hundred day moving average price of $1.90.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Namib Minerals from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 31st. 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 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.