Nouveau Monde Graphite (NYSE:NMG) Shares Down 3.2% – Time to Sell?

Nouveau Monde Graphite Inc. (NYSE:NMG)’s stock price fell 3.2% during trading on Thursday . The stock traded as low as $1.48 and last traded at $1.49. 26,004 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 92,798 shares. The stock had previously closed at $1.54.

Analyst Upgrades and Downgrades

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

Nouveau Monde Graphite Price Performance

The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $1.54 and a two-hundred day moving average of $1.78.

Nouveau Monde Graphite (NYSE:NMG) last posted its earnings results on Wednesday, August 14th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. As a group, equities analysts predict that Nouveau Monde Graphite Inc. will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Nouveau Monde Graphite

A hedge fund recently bought a new stake in Nouveau Monde Graphite stock. General Motors Holdings LLC acquired a new stake in shares of Nouveau Monde Graphite Inc. (NYSE:NMG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,500,000 shares of the company’s stock, valued at approximately $28,625,000. Nouveau Monde Graphite makes up about 10.7% of General Motors Holdings LLC’s investment portfolio, making the stock its 4th largest holding. General Motors Holdings LLC owned 18.63% of Nouveau Monde Graphite at the end of the most recent quarter. Institutional investors own 41.09% of the company’s stock.

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.