Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Down – Here’s What Happened

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) gapped down prior to trading on Friday . The stock had previously closed at $7.46, but opened at $7.17. Uranium Energy shares last traded at $7.35, with a volume of 794,317 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UEC. HC Wainwright increased their price objective on shares of Uranium Energy from $10.25 to $11.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Roth Mkm reiterated a “buy” rating and issued a $10.25 price target (up from $9.75) on shares of Uranium Energy in a research note on Wednesday, October 23rd.

Uranium Energy Trading Down 0.7 %

The company has a market cap of $3.14 billion, a P/E ratio of -61.75 and a beta of 1.84. The firm’s 50-day simple moving average is $6.57.

Uranium Energy (NYSEAMERICAN:UEC) last posted its earnings results on Thursday, September 26th. The basic materials company reported ($0.03) earnings per share for the quarter. As a group, research analysts predict that Uranium Energy Corp. will post 0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Uranium Energy

Several institutional investors have recently modified their holdings of the business. Vontobel Holding Ltd. raised its position in Uranium Energy by 3.9% in the third quarter. Vontobel Holding Ltd. now owns 38,548 shares of the basic materials company’s stock worth $239,000 after acquiring an additional 1,461 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Uranium Energy by 4.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,773 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 1,560 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Uranium Energy by 29.7% in the 3rd quarter. National Bank of Canada FI now owns 7,485 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 1,713 shares during the period. Choreo LLC lifted its stake in Uranium Energy by 11.0% in the second quarter. Choreo LLC now owns 24,505 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 2,420 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Uranium Energy by 12.7% in the third quarter. Franklin Resources Inc. now owns 22,245 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 2,505 shares during the last quarter. 62.28% of the stock is owned by institutional investors.

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.