Nouveau Monde Graphite Inc. (NYSE:NMG) Short Interest Down 28.6% in January

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. Based on an average daily trading volume, of 116,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.6% of the shares of the stock are sold short.

Institutional Trading of Nouveau Monde Graphite

Large investors have recently added to or reduced their stakes in the company. Quinn Opportunity Partners LLC boosted its holdings in shares of Nouveau Monde Graphite by 207.7% during the 4th quarter. Quinn Opportunity Partners LLC now owns 74,068 shares of the company’s stock worth $118,000 after buying an additional 50,000 shares during the period. Bank of Montreal Can boosted its holdings in shares of Nouveau Monde Graphite by 46.2% during the 4th quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock worth $76,000 after buying an additional 15,300 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Nouveau Monde Graphite during the 4th quarter worth about $26,000. Finally, National Bank of Canada FI boosted its holdings in shares of Nouveau Monde Graphite by 6.7% during the 3rd quarter. National Bank of Canada FI now owns 124,610 shares of the company’s stock worth $196,000 after buying an additional 7,871 shares during the period. Institutional investors and hedge funds own 41.09% of the company’s stock.

Nouveau Monde Graphite Trading Down 6.8 %

NMG traded down $0.14 during mid-day trading on Friday, hitting $1.91. The stock had a trading volume of 35,443 shares, compared to its average volume of 123,176. The firm has a market capitalization of $215.03 million, a price-to-earnings ratio of -2.97 and a beta of 0.74. Nouveau Monde Graphite has a 1-year low of $1.22 and a 1-year high of $3.07. The stock’s fifty day simple moving average is $1.85 and its 200-day simple moving average is $1.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective 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.