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

Nouveau Monde Graphite Inc. (NYSE:NMG) saw a large 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. Currently, 0.6% of the company’s shares are short sold. Based on an average daily volume of 116,000 shares, the days-to-cover ratio is currently 1.6 days.

Nouveau Monde Graphite Stock Down 6.8 %

NYSE NMG traded down $0.14 on Friday, hitting $1.91. 35,443 shares of the company were exchanged, compared to its average volume of 123,176. Nouveau Monde Graphite has a 12 month low of $1.22 and a 12 month high of $3.07. The company has a market cap of $215.03 million, a PE ratio of -2.97 and a beta of 0.74. The stock has a fifty day moving average of $1.85 and a 200-day moving average of $1.60. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02.

Wall Street Analyst Weigh In

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

Institutional Trading of Nouveau Monde Graphite

Several institutional investors and hedge funds have recently made changes to their positions in NMG. SBI Securities Co. Ltd. purchased a new stake in shares of Nouveau Monde Graphite in the fourth quarter valued at about $26,000. Bank of Montreal Can raised its holdings in shares of Nouveau Monde Graphite by 46.2% in the fourth quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock valued at $76,000 after purchasing an additional 15,300 shares during the last quarter. Quinn Opportunity Partners LLC increased its holdings in Nouveau Monde Graphite by 207.7% during the fourth 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 last quarter. Finally, National Bank of Canada FI boosted its position in shares of Nouveau Monde Graphite by 6.7% in the third quarter. National Bank of Canada FI now owns 124,610 shares of the company’s stock valued at $196,000 after acquiring an additional 7,871 shares during the period. Hedge funds and other institutional investors own 41.09% of the company’s stock.

About Nouveau Monde Graphite

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.