Uranium Energy (NYSEAMERICAN:UEC) Shares Down 4.4% – Should You Sell?

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s stock price dropped 4.4% during mid-day trading on Tuesday . The company traded as low as $5.28 and last traded at $5.29. Approximately 1,730,620 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 7,442,471 shares. The stock had previously closed at $5.53.

Wall Street Analysts Forecast Growth

UEC has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $12.25 target price on shares of Uranium Energy in a research note on Thursday, March 13th. Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. National Bank Financial initiated coverage on Uranium Energy in a research note on Wednesday, February 12th. They issued an “outperform” rating and a $10.00 price target for the company. Stifel Nicolaus set a $10.50 price target on Uranium Energy in a research note on Wednesday, March 12th. Finally, National Bankshares set a $10.00 price objective on shares of Uranium Energy and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $10.60.

Uranium Energy Price Performance

The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -44.58 and a beta of 1.88. The business has a fifty day moving average price of $6.45 and a two-hundred day moving average price of $6.83.

Institutional Trading of Uranium Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. raised its position in Uranium Energy by 947.4% during the fourth quarter. Harbour Investments Inc. now owns 3,886 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 3,515 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Uranium Energy by 180.1% during the 4th quarter. GAMMA Investing LLC now owns 4,338 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 2,789 shares during the period. Generali Investments Management Co LLC purchased a new position in shares of Uranium Energy during the 4th quarter valued at approximately $30,000. BNP Paribas acquired a new position in shares of Uranium Energy in the 3rd quarter valued at $38,000. Finally, National Bank of Canada FI boosted its holdings in Uranium Energy by 29.7% during the third quarter. National Bank of Canada FI now owns 7,485 shares of the basic materials company’s stock worth $46,000 after buying an additional 1,713 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Uranium Energy Company Profile

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.