Namib Minerals (NASDAQ:NAMM) Short Interest Update

Namib Minerals (NASDAQ:NAMM) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 275,388 shares, a drop of 20.7% from the November 30th total of 347,244 shares. Based on an average daily trading volume, of 143,068 shares, the short-interest ratio is currently 1.9 days. Approximately 0.7% of the shares of the company are short sold. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 143,068 shares, the short-interest ratio is currently 1.9 days.

Institutional Investors Weigh In On Namib Minerals

A hedge fund recently bought a new stake in Namib Minerals stock. Millennium Management LLC bought a new position in shares of Namib Minerals (NASDAQ:NAMM) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 19,246 shares of the company’s stock, valued at approximately $63,000. Institutional investors own 59.54% of the company’s stock.

Namib Minerals Price Performance

NASDAQ:NAMM opened at $1.04 on Tuesday. The firm has a market capitalization of $55.83 million, a price-to-earnings ratio of -0.82 and a beta of -0.14. Namib Minerals has a 12-month low of $0.96 and a 12-month high of $55.00. The business has a 50-day simple moving average of $1.50.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Namib Minerals in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Namib Minerals presently has an average rating of “Sell”.

About Namib Minerals

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.