Namib Minerals (NASDAQ:NAMM) Short Interest Up 1,676.1% in January

Namib Minerals (NASDAQ:NAMM) saw a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 1,843,285 shares, an increase of 1,676.1% from the January 15th total of 103,782 shares. Based on an average daily trading volume, of 50,716,043 shares, the days-to-cover ratio is presently 0.0 days. Approximately 4.9% of the company’s stock are short sold. Approximately 4.9% of the company’s stock are short sold. Based on an average daily trading volume, of 50,716,043 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Investors Weigh In On Namib Minerals

A hedge fund recently raised its stake in Namib Minerals stock. Polar Asset Management Partners Inc. increased its stake in Namib Minerals (NASDAQ:NAMM) by 14.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,346,001 shares of the company’s stock after acquiring an additional 173,899 shares during the period. Polar Asset Management Partners Inc. owned approximately 2.51% of Namib Minerals worth $4,428,000 at the end of the most recent reporting period. 59.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Namib Minerals in a research note on Thursday, January 22nd. Zacks Research upgraded Namib Minerals from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Namib Minerals Trading Down 12.3%

NAMM stock traded down $0.32 during midday trading on Thursday, reaching $2.29. The stock had a trading volume of 1,236,911 shares, compared to its average volume of 18,751,979. The stock has a market cap of $122.93 million, a P/E ratio of -1.80 and a beta of -0.02. The firm has a fifty day moving average price of $1.91. Namib Minerals has a 52-week low of $0.91 and a 52-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.