Foremost Clean Energy (NASDAQ:FMST) Stock Price Down 14.1% – Here’s Why

Foremost Clean Energy Ltd. (NASDAQ:FMST) was down 14.1% on Wednesday . The company traded as low as $1.65 and last traded at $1.71. 269,489 shares changed hands during trading, an increase of 58% from the average daily volume of 170,234 shares. The stock had previously closed at $1.99.

Wall Street Analyst Weigh In

FMST has been the subject of a number of recent analyst reports. Weiss Ratings raised Foremost Clean Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Foremost Clean Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Foremost Clean Energy Price Performance

The business has a 50 day simple moving average of $1.63 and a 200 day simple moving average of $1.88. The company has a market capitalization of $28.63 million, a price-to-earnings ratio of -4.71 and a beta of 4.61.

Foremost Clean Energy (NASDAQ:FMST) last issued its quarterly earnings results on Monday, June 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01).

Hedge Funds Weigh In On Foremost Clean Energy

Large investors have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in shares of Foremost Clean Energy during the 4th quarter worth about $25,000. Jane Street Group LLC acquired a new stake in shares of Foremost Clean Energy during the 2nd quarter worth about $57,000. Engineers Gate Manager LP purchased a new stake in Foremost Clean Energy during the fourth quarter worth approximately $41,000. Virtu Financial LLC purchased a new stake in Foremost Clean Energy during the fourth quarter worth approximately $50,000. Finally, Goldman Sachs Group Inc. acquired a new position in Foremost Clean Energy in the fourth quarter valued at approximately $63,000. Hedge funds and other institutional investors own 0.13% of the company’s stock.

Foremost Clean Energy Company Profile

Foremost Clean Energy Ltd. engages in uranium and lithium exploration. Its uranium properties include the Eastern Athabasca and Blue Sky projects. The firm also maintains a secondary portfolio of lithium projects including Zoro, Jean Lake, Peg North, Grass River, and Jol. It operates through the Canada and United States geographical segments. The company was founded on July 7, 2005 and is headquartered in Vancouver, Canada.