Nouveau Monde Graphite Inc. (NYSE:NMG) Sees Significant Decline in Short Interest

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

Analyst Upgrades and Downgrades

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.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in shares of Nouveau Monde Graphite in the 4th quarter worth about $26,000. Bank of Montreal Can increased its stake in shares of Nouveau Monde Graphite by 46.2% in the 4th quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock worth $76,000 after acquiring an additional 15,300 shares in the last quarter. Quinn Opportunity Partners LLC increased its stake in shares of Nouveau Monde Graphite by 207.7% in the 4th quarter. Quinn Opportunity Partners LLC now owns 74,068 shares of the company’s stock worth $118,000 after acquiring an additional 50,000 shares in the last quarter. Finally, National Bank of Canada FI grew its position in 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 valued at $196,000 after purchasing an additional 7,871 shares during the last quarter. 41.09% of the stock is currently owned by institutional investors.

Nouveau Monde Graphite Trading Down 5.9 %

NYSE NMG traded down $0.12 during trading on Friday, hitting $1.93. The company had a trading volume of 104,302 shares, compared to its average volume of 102,732. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. Nouveau Monde Graphite has a one year low of $1.22 and a one year high of $3.07. The company’s fifty day moving average is $1.87 and its 200-day moving average is $1.60.

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.