Namib Minerals (NASDAQ:NAMM) Short Interest Update

Namib Minerals (NASDAQ:NAMM) was the target of a large decrease in short interest during the month of 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. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 565,232 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings cut Namib Minerals from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Namib Minerals has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Namib Minerals stock. Lineage Point Capital LP acquired a new position in Namib Minerals (NASDAQ:NAMM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 128,300 shares of the company’s stock, valued at approximately $130,000. Lineage Point Capital LP owned 0.24% of Namib Minerals at the end of the most recent reporting period. Institutional investors and hedge funds own 59.54% of the company’s stock.

Namib Minerals Price Performance

NASDAQ NAMM traded down $0.01 during trading hours on Wednesday, reaching $1.25. The company’s stock had a trading volume of 145,705 shares, compared to its average volume of 3,938,754. The firm has a fifty day simple moving average of $1.42 and a 200-day simple moving average of $1.87. Namib Minerals has a 52 week low of $0.91 and a 52 week high of $7.42. The stock has a market cap of $67.87 million, a P/E ratio of -1.31 and a beta of -0.03.

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.