Short Interest in Namib Minerals (NASDAQ:NAMM) Rises By 1,676.1%

Namib Minerals (NASDAQ:NAMM) was the recipient of a large 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. Currently, 4.9% of the shares of the stock are sold short. Based on an average trading volume of 50,716,043 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 50,716,043 shares, the days-to-cover ratio is currently 0.0 days. Currently, 4.9% of the shares of the stock are sold short.

Hedge Funds Weigh In On Namib Minerals

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

Namib Minerals Stock Down 14.5%

NASDAQ:NAMM traded down $0.41 during mid-day trading on Tuesday, reaching $2.41. The stock had a trading volume of 2,286,273 shares, compared to its average volume of 19,991,898. The company has a market capitalization of $129.37 million, a PE ratio of -1.90 and a beta of -0.04. The company has a 50 day moving average price of $1.88. Namib Minerals has a one year low of $0.91 and a one year high of $55.00.

Wall Street Analysts Forecast Growth

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

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.