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

Nouveau Monde Graphite Inc. (NYSE:NMG - Get Free Report) saw a large decline in short interest during 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 presently 1.6 days. Approximately 0.6% of the company's shares are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a "buy" rating and issued a $3.00 price target on shares of Nouveau Monde Graphite in a research report on Tuesday, December 17th.

Nouveau Monde Graphite Trading Down 2.6 %

Shares of Nouveau Monde Graphite stock traded down $0.05 during trading on Tuesday, hitting $1.88. 85,289 shares of the company were exchanged, compared to its average volume of 124,483. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market capitalization of $211.65 million, a P/E ratio of -2.94 and a beta of 0.74. The firm's fifty day moving average price is $1.89 and its 200 day moving average price is $1.61. Nouveau Monde Graphite has a 1-year low of $1.22 and a 1-year high of $3.04.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in Nouveau Monde Graphite in the fourth quarter worth $26,000. Millennium Management LLC increased its position in shares of Nouveau Monde Graphite by 51.9% in the 4th quarter. Millennium Management LLC now owns 47,755 shares of the company's stock valued at $76,000 after buying an additional 16,312 shares in the last quarter. Bank of Montreal Can raised its stake in 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. Quinn Opportunity Partners LLC raised its stake in 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. Finally, National Bank of Canada FI lifted its holdings in 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 worth $196,000 after acquiring an additional 7,871 shares in the last quarter. Institutional investors own 41.09% of the company's stock.

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.