Nouveau Monde Graphite (NYSE:NMG) Stock Price Down 4.3% – Should You Sell?

Nouveau Monde Graphite Inc. (NYSE:NMG) shares fell 4.3% during mid-day trading on Friday . The company traded as low as $1.32 and last traded at $1.33. 41,258 shares were traded during mid-day trading, a decline of 54% from the average session volume of 88,979 shares. The stock had previously closed at $1.39.

Analyst Ratings Changes

Separately, HC Wainwright reduced their target price on shares of Nouveau Monde Graphite from $3.25 to $3.00 and set a “buy” rating for the company in a report on Wednesday, September 4th.

Nouveau Monde Graphite Stock Performance

The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The stock’s 50-day simple moving average is $1.40 and its 200-day simple moving average is $1.59. The stock has a market cap of $149.73 million, a price-to-earnings ratio of -2.08 and a beta of 0.79.

Institutional Inflows and Outflows

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

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.