NexGen Energy (NYSE:NXE) Sees Unusually-High Trading Volume – Should You Buy?

NexGen Energy (NYSE:NXE) saw unusually-strong trading volume on Friday . Approximately 18,648,503 shares changed hands during trading, an increase of 99% from the previous session’s volume of 9,377,559 shares.The stock last traded at $10.6810 and had previously closed at $11.08.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NXE shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NexGen Energy in a report on Thursday, January 22nd. Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Wednesday, January 14th. Finally, Zacks Research upgraded NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, NexGen Energy currently has a consensus rating of “Moderate Buy”.

NexGen Energy Trading Down 0.3%

The stock has a market cap of $7.29 billion, a price-to-earnings ratio of -26.94 and a beta of 1.44. The firm’s 50-day moving average is $10.47 and its two-hundred day moving average is $8.89.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). On average, analysts predict that NexGen Energy will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On NexGen Energy

A number of large investors have recently modified their holdings of NXE. Millennium Management LLC boosted its position in NexGen Energy by 15.3% during the first quarter. Millennium Management LLC now owns 4,101,588 shares of the company’s stock worth $18,407,000 after acquiring an additional 543,179 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of NexGen Energy by 7.3% during the 1st quarter. NewEdge Advisors LLC now owns 151,423 shares of the company’s stock worth $680,000 after purchasing an additional 10,266 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of NexGen Energy by 1.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company’s stock worth $13,412,000 after purchasing an additional 36,510 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of NexGen Energy in the first quarter valued at approximately $165,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of NexGen Energy by 13.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company’s stock valued at $3,166,000 after purchasing an additional 81,167 shares during the last quarter. Hedge funds and other institutional investors own 42.43% of the company’s stock.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.