Uranium Energy (NYSEAMERICAN:UEC) Trading Down 9.6% – What’s Next?

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s share price dropped 9.6% on Wednesday . The stock traded as low as $13.94 and last traded at $13.96. Approximately 4,840,976 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 9,878,308 shares. The stock had previously closed at $15.44.

Wall Street Analyst Weigh In

Several research firms have recently commented on UEC. HC Wainwright reaffirmed a “buy” rating and set a $26.75 target price on shares of Uranium Energy in a report on Wednesday, May 20th. Roth Mkm set a $17.00 target price on Uranium Energy in a report on Wednesday, March 11th. Finally, TD Securities lowered their target price on Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Uranium Energy has a consensus rating of “Moderate Buy” and an average price target of $17.66.

Uranium Energy Stock Up 0.4%

The company has a market capitalization of $6.93 billion, a P/E ratio of -117.83 and a beta of 1.12. The business has a 50 day simple moving average of $14.08 and a 200-day simple moving average of $14.31.

Uranium Energy (NYSEAMERICAN:UEC) last posted its earnings results on Tuesday, March 10th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $20.20 million during the quarter, compared to the consensus estimate of $12.85 million. Equities analysts forecast that Uranium Energy Corp. will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Uranium Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC bought a new position in Uranium Energy in the 3rd quarter worth approximately $33,000. Strategic Advocates LLC bought a new position in Uranium Energy in the 3rd quarter worth approximately $40,000. Sound Income Strategies LLC grew its holdings in Uranium Energy by 159.1% in the 4th quarter. Sound Income Strategies LLC now owns 3,094 shares of the basic materials company’s stock worth $36,000 after buying an additional 1,900 shares in the last quarter. PenderFund Capital Management Ltd. bought a new position in Uranium Energy in the 4th quarter worth approximately $39,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Uranium Energy in the 4th quarter worth approximately $39,000. 62.28% of the stock is owned by institutional investors.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company’s core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy’s approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company’s primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.