Westwater Resources (NASDAQ:WWR) Price Target Cut to $1.25 by Analysts at HC Wainwright

Westwater Resources (NASDAQ:WWR) had its price objective cut by HC Wainwright from $1.50 to $1.25 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Westwater Resources Stock Up 3.4%

Shares of WWR stock opened at $0.40 on Friday. The company’s fifty day simple moving average is $0.47 and its two-hundred day simple moving average is $0.59. Westwater Resources has a 52 week low of $0.36 and a 52 week high of $1.31. The stock has a market cap of $51.43 million, a P/E ratio of -3.08 and a beta of 1.83.

Institutional Trading of Westwater Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of WWR. Empowered Funds LLC bought a new stake in Westwater Resources during the 3rd quarter valued at about $38,000. Intrua Financial LLC acquired a new stake in Westwater Resources in the 3rd quarter worth approximately $547,000. OMERS ADMINISTRATION Corp acquired a new stake in Westwater Resources during the 1st quarter worth about $87,000. Finally, Brooklands Fund Management Ltd raised its position in Westwater Resources by 117.7% during the 1st quarter. Brooklands Fund Management Ltd now owns 575,000 shares of the basic materials company’s stock worth $376,000 after buying an additional 310,894 shares during the last quarter. Hedge funds and other institutional investors own 7.72% of the company’s stock.

About Westwater Resources

Westwater Resources, Inc. is a U.S.-based energy materials company focused on developing natural graphite products for batteries and other energy-storage applications. Its planned products include graphite materials used in battery anodes. The company is advancing the Coosa Graphite Deposit in Coosa County, Alabama, and the Kellyton graphite processing plant in Alabama. These projects are intended to support a domestic supply chain for battery-grade graphite. Westwater previously operated as Uranium Resources, Inc. and shifted its focus toward graphite and battery materials.