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

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares gapped down prior to trading on Tuesday . The stock had previously closed at $12.24, but opened at $11.60. Uranium Energy shares last traded at $11.7540, with a volume of 1,283,444 shares traded.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating on shares of Uranium Energy in a report on Wednesday, August 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $16.00 price target on shares of Uranium Energy in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.41.

Uranium Energy Price Performance

The business has a fifty day simple moving average of $10.76 and a two-hundred day simple moving average of $12.80. The company has a market cap of $5.80 billion, a PE ratio of -97.74 and a beta of 1.22.

Uranium Energy (NYSEAMERICAN:UEC) last issued its quarterly earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). On average, equities research analysts predict that Uranium Energy Corp. will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Uranium Energy

A number of institutional investors have recently added to or reduced their stakes in UEC. Ninepoint Partners LP acquired a new stake in shares of Uranium Energy during the second quarter valued at about $1,125,000. Boundless Plain Holdings Ltd purchased a new stake in Uranium Energy in the fourth quarter valued at approximately $2,085,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Uranium Energy during the fourth quarter worth $1,533,000. Vanguard Group Inc. boosted its position in shares of Uranium Energy by 32.2% during the fourth quarter. Vanguard Group Inc. now owns 47,247,813 shares of the basic materials company’s stock worth $551,854,000 after buying an additional 11,521,597 shares during the period. Finally, BlackRock Inc. purchased a new position in shares of Uranium Energy during the second quarter worth $432,676,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company’s core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy’s approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company’s primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.