Nouveau Monde Graphite (NYSE:NMG) Shares Down 5.6% – Here’s What Happened

Nouveau Monde Graphite Inc. (NYSE:NMG) shares fell 5.6% on Friday . The company traded as low as $1.47 and last traded at $1.53. 34,731 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 68,191 shares. The stock had previously closed at $1.62.

Analyst Upgrades and Downgrades

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

Nouveau Monde Graphite Trading Down 5.6 %

The stock has a market capitalization of $172.25 million, a PE ratio of -2.39 and a beta of 0.78. 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 stock’s 50 day simple moving average is $1.92 and its two-hundred day simple moving average is $1.62.

Institutional Trading of Nouveau Monde Graphite

Institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Nouveau Monde Graphite during the 4th quarter valued at approximately $26,000. Millennium Management LLC increased its holdings in Nouveau Monde Graphite by 51.9% during the 4th quarter. Millennium Management LLC now owns 47,755 shares of the company’s stock worth $76,000 after acquiring an additional 16,312 shares during the period. Bank of Montreal Can increased its holdings 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 acquiring an additional 15,300 shares during the period. Quinn Opportunity Partners LLC increased its holdings 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 acquiring an additional 50,000 shares during the period. Finally, National Bank of Canada FI increased its holdings 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 worth $196,000 after acquiring an additional 7,871 shares during the period. 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.