Namib Minerals (NASDAQ:NAMM) Short Interest Down 31.6% in February

Namib Minerals (NASDAQ:NAMM) was the target of a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 1,260,053 shares, a decline of 31.6% from the January 29th total of 1,843,285 shares. Based on an average trading volume of 3,046,908 shares, the short-interest ratio is presently 0.4 days. Currently, 3.4% of the shares of the company are sold short. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 3,046,908 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Namib Minerals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new stake in Namib Minerals during the 3rd quarter worth approximately $63,000. Lineage Point Capital LP bought a new position in Namib Minerals during the 4th quarter valued at $130,000. Finally, Polar Asset Management Partners Inc. grew its holdings in Namib Minerals by 14.8% during 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. 59.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Namib Minerals in a report on Thursday, January 22nd. Wall Street Zen raised Namib Minerals from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Zacks Research raised Namib Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Namib Minerals Price Performance

Namib Minerals stock traded down $0.02 during midday trading on Friday, hitting $3.80. 1,831,228 shares of the stock were exchanged, compared to its average volume of 3,661,009. The stock’s 50-day moving average price is $2.39. The firm has a market cap of $203.98 million, a PE ratio of -2.99 and a beta of -0.02. Namib Minerals has a fifty-two week low of $0.91 and a fifty-two week high of $55.00.

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.