Algert Global LLC Acquires New Position in Uranium Energy Corp. $UEC

Key Points

• Algert Global LLC acquired 35,670 shares of Uranium Energy Corp. valued at approximately $171,000 in the first quarter, reflecting increased interest in the stock.
• Uranium Energy's stock saw a 1.2% decrease, with a current price of $10.40 and a market cap of $4.62 billion.
• Analysts have recently upgraded the stock, with Goldman Sachs issuing a "strong-buy" rating and TD Securities lifting the price target from $8.00 to $13.00.

Algert Global LLC purchased a new position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,670 shares of the basic materials company's stock, valued at approximately $171,000.

Several other institutional investors and hedge funds have also recently modified their holdings of UEC. Versant Capital Management Inc acquired a new position in shares of Uranium Energy in the first quarter valued at $27,000. Farther Finance Advisors LLC grew its stake in shares of Uranium Energy by 43.5% in the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 2,364 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Uranium Energy in the first quarter valued at about $36,000. Russell Investments Group Ltd. grew its stake in shares of Uranium Energy by 3,198.9% in the first quarter. Russell Investments Group Ltd. now owns 11,546 shares of the basic materials company's stock valued at $55,000 after acquiring an additional 11,196 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of Uranium Energy in the fourth quarter valued at about $76,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Uranium Energy Stock Performance

Shares of UEC stock traded up $0.11 during trading hours on Thursday, hitting $10.48. 8,643,288 shares of the company were exchanged, compared to its average volume of 12,846,971. The firm has a market cap of $4.66 billion, a P/E ratio of -61.64 and a beta of 1.44. Uranium Energy Corp. has a fifty-two week low of $3.85 and a fifty-two week high of $11.03. The company has a 50 day simple moving average of $8.41 and a two-hundred day simple moving average of $6.59.

Insider Activity at Uranium Energy

In other news, Director David Kong sold 50,800 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total transaction of $488,696.00. Following the completion of the sale, the director owned 182,237 shares of the company's stock, valued at $1,753,119.94. This trade represents a 21.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

UEC has been the topic of a number of analyst reports. TD Securities increased their price objective on shares of Uranium Energy from $8.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. The Goldman Sachs Group upgraded shares of Uranium Energy to a "strong-buy" rating in a research note on Tuesday, August 12th. BMO Capital Markets initiated coverage on shares of Uranium Energy in a research note on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 price objective on the stock. Finally, HC Wainwright increased their price objective on shares of Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat, Uranium Energy presently has a consensus rating of "Buy" and an average target price of $10.91.

Uranium Energy Profile

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.