Nouveau Monde Graphite (NYSE:NMG) Stock Price Down 0.9% – Should You Sell?

Nouveau Monde Graphite Inc. (NYSE:NMG)’s stock price dropped 0.9% during mid-day trading on Wednesday . The stock traded as low as $2.01 and last traded at $2.09. Approximately 29,273 shares were traded during trading, a decline of 81% from the average daily volume of 155,398 shares. The stock had previously closed at $2.11.

Analyst Upgrades and Downgrades

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

Nouveau Monde Graphite Stock Down 0.9 %

The firm’s fifty day simple moving average is $1.68 and its two-hundred day simple moving average is $1.57. The company has a market capitalization of $235.29 million, a price-to-earnings ratio of -3.27 and a beta of 0.67. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02.

Institutional Trading of Nouveau Monde Graphite

A hedge fund recently raised its stake in Nouveau Monde Graphite stock. National Bank of Canada FI boosted its stake in shares of Nouveau Monde Graphite Inc. (NYSE:NMG) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 124,610 shares of the company’s stock after acquiring an additional 7,871 shares during the quarter. National Bank of Canada FI owned about 0.11% of Nouveau Monde Graphite worth $196,000 as of its most recent filing with the Securities and Exchange Commission. 41.09% of the stock is currently owned by hedge funds and other institutional investors.

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.