Nouveau Monde Graphite (NYSE:NMG) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Nouveau Monde Graphite (NYSE:NMG) from a hold rating to a sell rating in a report released on Saturday,Wall Street Zen reports.

NMG has been the subject of several other research reports. Jefferies Financial Group started coverage on shares of Nouveau Monde Graphite in a research note on Wednesday, September 2nd. They issued a “buy” rating and a C$2.45 price objective for the company. Weiss Ratings downgraded shares of Nouveau Monde Graphite from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Freedom Broker upgraded shares of Nouveau Monde Graphite from a “hold” rating to a “buy” rating and upped their target price for the stock from $1.48 to $1.64 in a research report on Friday. Zacks Research cut shares of Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $4.50 target price on shares of Nouveau Monde Graphite in a report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.91.

Nouveau Monde Graphite Stock Performance

Nouveau Monde Graphite stock traded up $0.03 during midday trading on Friday, reaching $0.80. The company’s stock had a trading volume of 736,849 shares, compared to its average volume of 379,787. Nouveau Monde Graphite has a fifty-two week low of $0.75 and a fifty-two week high of $3.29. The stock’s 50 day simple moving average is $1.09 and its 200 day simple moving average is $1.66. The firm has a market capitalization of $263.00 million, a PE ratio of 39.97 and a beta of 0.65.

Nouveau Monde Graphite (NYSE:NMG) last issued its earnings results on Thursday, November 12th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. Equities analysts predict that Nouveau Monde Graphite will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. General Motors Holdings LLC acquired a new stake in Nouveau Monde Graphite in the 3rd quarter valued at about $15,000,000. StoneX Group Inc. purchased a new position in Nouveau Monde Graphite during the 3rd quarter valued at about $57,000. Alps Advisors Inc. purchased a new position in Nouveau Monde Graphite during the 3rd quarter valued at about $338,000. AXQ Capital LP increased its holdings in Nouveau Monde Graphite by 19.4% during the 2nd quarter. AXQ Capital LP now owns 56,985 shares of the company’s stock valued at $85,000 after acquiring an additional 9,242 shares in the last quarter. Finally, Pacifica Partners Inc. acquired a new position in Nouveau Monde Graphite during the second quarter worth about $47,000. Hedge funds and other institutional investors own 41.09% of the company’s stock.

About Nouveau Monde Graphite

Nouveau Monde Graphite is a Canadian company developing an integrated natural graphite business focused on supplying materials for electric-vehicle batteries and energy storage systems. Its planned activities span graphite mining, processing and the production of battery anode materials. The company’s key projects are in Quebec: the Matawinie graphite project near Saint-Michel-des-Saints and a proposed battery-materials facility in Bécancour. Nouveau Monde Graphite is developing these projects to serve North American customers and support regional battery supply chains.