Renaissance Technologies LLC Lowers Position in Westwater Resources, Inc. $WWR

Renaissance Technologies LLC trimmed its holdings in shares of Westwater Resources, Inc. (NASDAQ:WWR) by 40.4% in the first quarter, Holdings Channel reports. The firm owned 1,692,190 shares of the basic materials company’s stock after selling 1,144,700 shares during the period. Renaissance Technologies LLC’s holdings in Westwater Resources were worth $1,107,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Two Sigma Investments LP acquired a new position in Westwater Resources in the third quarter valued at about $972,000. XTX Topco Ltd increased its position in shares of Westwater Resources by 717.9% during the fourth quarter. XTX Topco Ltd now owns 610,853 shares of the basic materials company’s stock valued at $458,000 after acquiring an additional 536,170 shares during the last quarter. Soviero Asset Management LP acquired a new stake in shares of Westwater Resources during the third quarter valued at about $446,000. Geode Capital Management LLC raised its stake in shares of Westwater Resources by 54.4% in the 4th quarter. Geode Capital Management LLC now owns 1,288,757 shares of the basic materials company’s stock valued at $967,000 after acquiring an additional 454,005 shares during the period. Finally, Brooklands Fund Management Ltd raised its stake in shares of Westwater Resources by 117.7% in the 1st quarter. Brooklands Fund Management Ltd now owns 575,000 shares of the basic materials company’s stock valued at $376,000 after acquiring an additional 310,894 shares during the period. 7.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Westwater Resources

In related news, Director Tracy D. Pagliara sold 50,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $0.57, for a total transaction of $28,500.00. Following the completion of the transaction, the director directly owned 873,888 shares of the company’s stock, valued at $498,116.16. The trade was a 5.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karli S. Anderson sold 50,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $0.76, for a total value of $38,000.00. Following the sale, the director owned 790,909 shares in the company, valued at approximately $601,090.84. This trade represents a 5.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 198,000 shares of company stock valued at $126,200. Insiders own 4.90% of the company’s stock.

Analysts Set New Price Targets

WWR has been the subject of a number of research analyst reports. HC Wainwright lowered their price objective on shares of Westwater Resources from $1.75 to $1.50 and set a “buy” rating for the company in a research report on Monday, August 3rd. D. Boral Capital assumed coverage on shares of Westwater Resources in a report on Thursday, June 11th. They issued a “buy” rating and a $3.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $2.17.

Westwater Resources Stock Performance

Shares of WWR stock opened at $0.57 on Friday. The stock has a market capitalization of $71.89 million, a P/E ratio of -4.35 and a beta of 1.62. The company has a 50 day moving average price of $0.49 and a 200 day moving average price of $0.65. Westwater Resources, Inc. has a fifty-two week low of $0.38 and a fifty-two week high of $3.75.

Westwater Resources Company Profile

Westwater Resources, Inc (NASDAQ: WWR) is a Houston‐based mineral development company focused on advancing sustainable sources of battery‐grade graphite for the lithium‐ion battery market. The company’s primary asset is the Coosa Graphite Project in east‐central Alabama, where Westwater is working to establish a fully integrated, U.S.‐based supply chain for natural spherical graphite. By leveraging in‐house purification and spheronization technology, Westwater aims to produce high‐purity graphite suitable for electric vehicle and stationary energy storage applications.

Originally founded as a diversified natural resources company, Westwater Resources has realigned its strategy toward critical battery minerals.