Namib Minerals (NASDAQ:NAMM) Short Interest Down 25.6% in April

Key Points

• Short interest fell 25.6% in April to 669,278 shares (about 1.8% of shares outstanding) with a days-to-cover of ~1.6 days based on average volume.
• Analyst sentiment is mixed but weak overall: recent upgrades from Wall Street Zen and Zacks moved the stock to Hold, Weiss Ratings remains a Sell (D-), and the MarketBeat consensus is "Reduce."
• Institutional investors own about 59.5% of the stock; Namib traded at $1.88 with a market cap of ~$101.7M and a negative P/E, and it has a very wide 12‑month range ($0.91–$55.00).

Namib Minerals (NASDAQ:NAMM - Get Free Report) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 669,278 shares, a decline of 25.6% from the March 31st total of 899,545 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 414,226 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Namib Minerals from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Zacks Research upgraded Namib Minerals from a "strong sell" rating to a "hold" rating in a research note on Friday, January 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Namib Minerals in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce".

Institutional Investors Weigh In On Namib Minerals

Several institutional investors have recently added to or reduced their stakes in NAMM. Polar Asset Management Partners Inc. lifted its holdings 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 valued at $4,428,000 after purchasing an additional 173,899 shares during the last quarter. Millennium Management LLC purchased a new stake in Namib Minerals during the third quarter valued at about $63,000. Finally, Lineage Point Capital LP bought a new stake in shares of Namib Minerals during the fourth quarter valued at about $130,000. 59.54% of the stock is owned by hedge funds and other institutional investors.

Namib Minerals Stock Performance

NASDAQ NAMM traded down $0.14 during trading on Wednesday, hitting $1.88. 392,083 shares of the company's stock traded hands, compared to its average volume of 7,523,928. The stock has a market capitalization of $101.68 million, a price-to-earnings ratio of -1.48 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 business has a 50 day moving average of $2.60 and a 200-day moving average of $2.17.

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.

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