Namib Minerals (NASDAQ:NAMM) Sees Significant Decline in Short Interest

Namib Minerals (NASDAQ:NAMM) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 899,545 shares, a decrease of 15.2% from the March 15th total of 1,060,244 shares. Based on an average daily trading volume, of 735,435 shares, the days-to-cover ratio is presently 1.2 days. Approximately 2.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NAMM. Millennium Management LLC bought a new position in Namib Minerals during the third quarter worth $63,000. Lineage Point Capital LP bought a new position in Namib Minerals during the fourth quarter worth $130,000. Finally, Polar Asset Management Partners Inc. boosted its stake in Namib Minerals by 14.8% during the third 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. 59.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Namib Minerals from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Wall Street Zen upgraded shares of Namib Minerals from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Namib Minerals in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Namib Minerals Trading Up 1.4%

NASDAQ NAMM traded up $0.03 on Friday, hitting $2.12. 837,502 shares of the company were exchanged, compared to its average volume of 8,290,200. The company has a market cap of $114.66 million, a PE ratio of -1.67 and a beta of 0.21. Namib Minerals has a 12 month low of $0.91 and a 12 month high of $55.00. The stock has a fifty day moving average of $2.67 and a 200-day moving average of $2.24.

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.