Nouveau Monde Graphite (NYSE:NMG) Shares Down 4.3% – Time to Sell?

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

Analysts Set New Price Targets

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

Nouveau Monde Graphite Stock Performance

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

Institutional Inflows and Outflows

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