SummitTX Capital L.P. Cuts Stock Holdings in NexGen Energy $NXE

SummitTX Capital L.P. lowered its position in NexGen Energy (NYSE:NXE) by 88.2% in the first quarter, Holdings Channel.com reports. The firm owned 74,231 shares of the company’s stock after selling 557,010 shares during the quarter. SummitTX Capital L.P.’s holdings in NexGen Energy were worth $861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NXE. Leonteq Securities AG lifted its holdings in NexGen Energy by 88.2% in the first quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock valued at $28,000 after acquiring an additional 1,098 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of NexGen Energy by 454.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company’s stock worth $73,000 after purchasing an additional 6,528 shares during the period. Tcfg Wealth Management LLC acquired a new position in shares of NexGen Energy during the 1st quarter worth $116,000. Jump Financial LLC purchased a new position in shares of NexGen Energy in the 4th quarter valued at about $93,000. Finally, First Trust Advisors LP acquired a new stake in shares of NexGen Energy in the third quarter valued at about $94,000. Institutional investors and hedge funds own 42.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NXE. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NexGen Energy presently has a consensus rating of “Moderate Buy”.

NexGen Energy Stock Up 4.3%

NYSE NXE opened at $9.31 on Friday. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of -19.01 and a beta of 1.39. The business has a fifty day moving average of $9.97 and a 200-day moving average of $11.29. NexGen Energy has a fifty-two week low of $6.26 and a fifty-two week high of $13.96.

About NexGen Energy

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.