Nouveau Monde Graphite Inc. (NYSE:NMG) Short Interest Update

Nouveau Monde Graphite Inc. (NYSE:NMG) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 185,500 shares, a decrease of 28.6% from the January 15th total of 259,800 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 116,000 shares, the short-interest ratio is currently 1.6 days.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several institutional investors have recently modified their holdings of the business. National Bank of Canada FI boosted its position in shares of Nouveau Monde Graphite by 6.7% during the third quarter. National Bank of Canada FI now owns 124,610 shares of the company’s stock valued at $196,000 after buying an additional 7,871 shares during the last quarter. Bank of Montreal Can boosted its position in Nouveau Monde Graphite by 46.2% in the fourth quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock worth $76,000 after purchasing an additional 15,300 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Nouveau Monde Graphite in the fourth quarter worth about $26,000. Finally, Quinn Opportunity Partners LLC boosted its position in Nouveau Monde Graphite by 207.7% in the fourth quarter. Quinn Opportunity Partners LLC now owns 74,068 shares of the company’s stock worth $118,000 after purchasing an additional 50,000 shares during the last quarter. 41.09% of the stock is owned by hedge funds and other institutional investors.

Nouveau Monde Graphite Stock Performance

Shares of Nouveau Monde Graphite stock traded down $0.12 during trading on Friday, hitting $1.93. 104,302 shares of the company’s stock traded hands, compared to its average volume of 102,732. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. Nouveau Monde Graphite has a 1 year low of $1.22 and a 1 year high of $3.07. The stock has a market capitalization of $217.28 million, a P/E ratio of -3.02 and a beta of 0.74. The business has a 50-day simple moving average of $1.87 and a 200-day simple moving average of $1.60.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Nouveau Monde Graphite in a research note on Tuesday, December 17th.

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.