Namib Minerals (NASDAQ:NAMM) Short Interest Update

Key Points

• Short interest fell sharply: Namib Minerals’ short interest dropped 56% to 87,146 shares as of August 31, representing approximately 0.2% of shares outstanding and 0.2 days of average trading volume.
• Institutional ownership remains significant: Institutional investors own 59.54% of the company, with Polar Asset Management increasing its stake by 14.8% and several other institutions establishing new positions.
• Analyst sentiment and share performance are weak: Weiss Ratings downgraded the stock to “sell (d),” while the broader analyst consensus is “Reduce.” Shares recently traded at $1.27, well below their 50-day and 200-day moving averages and the 12-month high of $7.42.

Namib Minerals (NASDAQ:NAMM - Get Free Report) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 87,146 shares, a drop of 56.0% from the August 15th total of 197,931 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 565,232 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of Namib Minerals

Institutional investors and hedge funds have recently made changes to their positions in the business. Polar Asset Management Partners Inc. grew its holdings in shares of Namib Minerals by 14.8% in the third quarter. Polar Asset Management Partners Inc. now owns 1,346,001 shares of the company's stock worth $4,428,000 after purchasing an additional 173,899 shares during the last quarter. Lineage Point Capital LP bought a new position in Namib Minerals in the 4th quarter worth about $130,000. Millennium Management LLC bought a new position in Namib Minerals in the 3rd quarter worth about $63,000. Finally, State of Wyoming purchased a new position in shares of Namib Minerals during the first quarter worth approximately $31,000. 59.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Namib Minerals from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 31st. 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 MarketBeat, Namib Minerals currently has a consensus rating of "Reduce".

Namib Minerals Price Performance

Shares of NAMM traded down $0.07 during mid-day trading on Monday, reaching $1.27. 267,452 shares of the company's stock traded hands, compared to its average volume of 3,979,887. The stock's 50-day moving average is $1.44 and its two-hundred day moving average is $1.90. Namib Minerals has a 12 month low of $0.91 and a 12 month high of $7.42. The stock has a market cap of $68.95 million, a P/E ratio of -1.33 and a beta of -0.03.

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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