Nouveau Monde Graphite (NYSE:NMG) Shares Gap Down - Time to Sell?

Key Points

• Nouveau Monde Graphite shares gapped down to $3.08 from a previous close of $3.28, with last traded shares at $3.50 and a volume of 900,484 shares.
• Wall Street analysts have mixed ratings on the stock, with a consensus rating of "Hold" and a target price of $4.87, while some analysts have rated it as a "strong sell."
• The company reported a quarterly EPS of ($0.10), missing the consensus estimate and is expected to post a total EPS of -0.47 for the current fiscal year.

Nouveau Monde Graphite Inc. (NYSE:NMG - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $3.28, but opened at $3.08. Nouveau Monde Graphite shares last traded at $3.50, with a volume of 900,484 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NMG shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nouveau Monde Graphite in a research note on Wednesday, October 8th. National Bank Financial raised Nouveau Monde Graphite to a "hold" rating in a research report on Thursday, September 11th. HC Wainwright boosted their price target on Nouveau Monde Graphite from $2.75 to $7.50 and gave the company a "buy" rating in a research report on Wednesday. Roth Capital set a $4.70 price target on Nouveau Monde Graphite and gave the company a "buy" rating in a research report on Thursday. Finally, Zacks Research downgraded Nouveau Monde Graphite from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $4.87.

Nouveau Monde Graphite Stock Performance

The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $2.41 and a 200 day moving average of $1.98. The firm has a market cap of $523.63 million, a price-to-earnings ratio of -9.83 and a beta of 0.85.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). As a group, equities research analysts expect that Nouveau Monde Graphite Inc. will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nouveau Monde Graphite stock. XTX Topco Ltd raised its position in shares of Nouveau Monde Graphite Inc. (NYSE:NMG - Free Report) by 100.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,522 shares of the company's stock after buying an additional 12,811 shares during the quarter. XTX Topco Ltd's holdings in Nouveau Monde Graphite were worth $42,000 at the end of the most recent quarter. Institutional investors own 41.09% of the company's stock.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite Inc engages in the acquisition, exploration, development, and evaluation of mineral properties in Quebec, Canada. It primarily explores for graphite. The company's flagship property is the 100% owned Matawinie graphite property including 176 mining claims covering an area of 9,264 hectares located in Quebec.

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