Foremost Clean Energy (NASDAQ:FMST) Trading Down 3.7% – Here’s Why

Foremost Clean Energy Ltd. (NASDAQ:FMST) shares traded down 3.7% during mid-day trading on Thursday . The company traded as low as $1.27 and last traded at $1.30. Approximately 68,523 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 145,540 shares. The stock had previously closed at $1.35.

Wall Street Analyst Weigh In

FMST has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Foremost Clean Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Foremost Clean Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Foremost Clean Energy currently has a consensus rating of “Sell”.

Foremost Clean Energy Stock Performance

The business has a 50 day simple moving average of $1.55 and a 200-day simple moving average of $1.79. The firm has a market cap of $22.55 million, a price-to-earnings ratio of -3.10 and a beta of 4.62.

Foremost Clean Energy (NASDAQ:FMST) last issued its quarterly earnings data on Monday, June 29th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01).

Institutional Investors Weigh In On Foremost Clean Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC bought a new position in Foremost Clean Energy during the 4th quarter valued at $25,000. Engineers Gate Manager LP bought a new stake in shares of Foremost Clean Energy in the 4th quarter worth $41,000. Virtu Financial LLC bought a new stake in shares of Foremost Clean Energy in the 4th quarter worth $50,000. Jane Street Group LLC purchased a new stake in shares of Foremost Clean Energy in the second quarter valued at about $57,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Foremost Clean Energy in the fourth quarter valued at about $63,000. 0.13% of the stock is owned by hedge funds and other institutional investors.

Foremost Clean Energy Company Profile

Foremost Clean Energy Ltd. engages in uranium and lithium exploration. Its uranium properties include the Eastern Athabasca and Blue Sky projects. The firm also maintains a secondary portfolio of lithium projects including Zoro, Jean Lake, Peg North, Grass River, and Jol. It operates through the Canada and United States geographical segments. The company was founded on July 7, 2005 and is headquartered in Vancouver, Canada.