Uranium Energy (NYSEAMERICAN:UEC) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Uranium Energy to “strong sell” from “hold,” despite the broader analyst consensus remaining “Moderate Buy” with an average price target of $16.75.
• UEC shares rose 8.1% to open at $10.11, while trading below their 50-day and 200-day moving averages and well below the one-year high of $20.34.
• The company reported a quarterly loss of $0.12 per share, missing the $0.04 consensus loss estimate, although revenue of $17.05 million exceeded expectations of $9.00 million.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Monday, Zacks reports.

Several other research firms have also recently commented on UEC. HC Wainwright reissued a "buy" rating and issued a $26.75 target price on shares of Uranium Energy in a research note on Wednesday, September 30th. Jefferies Financial Group assumed coverage on Uranium Energy in a research note on Thursday, September 3rd. They set a "hold" rating and a $11.50 price objective for the company. National Bank Financial decreased their target price on Uranium Energy from $16.00 to $15.00 and set an "outperform" rating for the company in a research report on Monday. The Goldman Sachs Group reiterated a "buy" rating and issued a $16.00 target price on shares of Uranium Energy in a report on Tuesday, June 9th. Finally, Royal Bank Of Canada assumed coverage on Uranium Energy in a report on Friday, October 2nd. They issued a "sector perform" rating and a $10.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.75.

Uranium Energy Trading Up 8.1%

UEC opened at $10.11 on Monday. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -36.11 and a beta of 1.38. The business has a 50 day moving average of $10.83 and a 200-day moving average of $11.96. Uranium Energy has a 1-year low of $8.90 and a 1-year high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last issued its earnings results on Tuesday, September 29th. The basic materials company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The firm had revenue of $17.05 million for the quarter, compared to the consensus estimate of $9.00 million. Equities analysts predict that Uranium Energy will post -0.08 EPS for the current year.

Institutional Trading of Uranium Energy

A number of hedge funds and other institutional investors have recently modified their holdings of UEC. Segra Capital Management LLC acquired a new position in Uranium Energy during the third quarter worth $5,198,000. Sequoia Financial Advisors LLC grew its position in shares of Uranium Energy by 6.0% in the second quarter. Sequoia Financial Advisors LLC now owns 18,673 shares of the basic materials company's stock valued at $199,000 after purchasing an additional 1,050 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Uranium Energy by 28.2% during the second quarter. Integrated Wealth Concepts LLC now owns 66,655 shares of the basic materials company's stock worth $711,000 after buying an additional 14,679 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Uranium Energy by 49.9% in the second quarter. NewEdge Advisors LLC now owns 30,133 shares of the basic materials company's stock valued at $321,000 after acquiring an additional 10,037 shares during the period. Finally, Squarepoint Ops LLC grew its stake in shares of Uranium Energy by 117.8% in the second quarter. Squarepoint Ops LLC now owns 28,589 shares of the basic materials company's stock valued at $305,000 after acquiring an additional 15,464 shares in the last quarter. 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 headquartered in Corpus Christi, Texas. The company focuses on the acquisition, development and operation of uranium projects, with an emphasis on in-situ recovery (ISR), a mining method that extracts uranium from underground deposits without conventional open-pit or underground mining. Its operations and development portfolio are primarily located in the United States, including projects in Texas and Wyoming.

UEC's U.S. assets include ISR projects, processing facilities and associated resource properties.

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