Traders Buy Large Volume of NexGen Energy Call Options (NYSE:NXE)

NexGen Energy Ltd. (NYSE:NXE) saw unusually large options trading activity on Wednesday. Stock investors acquired 20,824 call options on the company. This is an increase of 80% compared to the average volume of 11,548 call options.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of NexGen Energy in a report on Wednesday. They set a “buy” rating for the company. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Thursday, March 6th. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, NexGen Energy has an average rating of “Strong Buy”.

NexGen Energy Stock Up 2.6 %

Shares of NYSE:NXE traded up $0.12 during midday trading on Wednesday, reaching $4.86. 6,316,184 shares of the company traded hands, compared to its average volume of 6,310,735. NexGen Energy has a 12 month low of $4.44 and a 12 month high of $8.96. The firm’s fifty day moving average price is $6.27 and its two-hundred day moving average price is $6.81. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 32.37 and a beta of 1.97.

Institutional Investors Weigh In On NexGen Energy

Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in NexGen Energy by 284.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company’s stock worth $33,000 after acquiring an additional 3,700 shares during the period. Altshuler Shaham Ltd bought a new position in shares of NexGen Energy in the fourth quarter worth $51,000. Mariner LLC purchased a new stake in shares of NexGen Energy in the fourth quarter worth $68,000. Larson Financial Group LLC raised its position in shares of NexGen Energy by 122.7% in the third quarter. Larson Financial Group LLC now owns 10,575 shares of the company’s stock worth $69,000 after buying an additional 5,827 shares in the last quarter. Finally, Silver Lake Advisory LLC bought a new stake in NexGen Energy during the fourth quarter valued at $73,000. 42.43% of the stock is owned by hedge funds and other institutional investors.

NexGen Energy Company Profile

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.