Concurrent Investment Advisors LLC Invests $1.03 Million in Uranium Energy Corp. $UEC

Key Points

• Concurrent Investment Advisors initiated a position in Uranium Energy Corp. by purchasing 97,035 shares worth approximately $1.03 million during the second quarter.
• Institutional ownership remains significant at 62.28%, with several other funds—including AQR Capital Management and UBS Asset Management—also increasing their stakes.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $16.75; however, Uranium Energy recently reported a quarterly loss of $0.07 per share, missing estimates.

Concurrent Investment Advisors LLC bought a new position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 97,035 shares of the basic materials company's stock, valued at approximately $1,034,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in shares of Uranium Energy by 56.6% in the 1st quarter. AQR Capital Management LLC now owns 222,582 shares of the basic materials company's stock valued at $1,064,000 after buying an additional 80,464 shares during the period. Caxton Associates LLP acquired a new stake in shares of Uranium Energy in the 1st quarter valued at $173,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Uranium Energy by 44.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,367,597 shares of the basic materials company's stock valued at $6,537,000 after purchasing an additional 423,994 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Uranium Energy by 114.0% during the first quarter. Focus Partners Wealth now owns 36,427 shares of the basic materials company's stock worth $174,000 after purchasing an additional 19,407 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Uranium Energy by 24.2% during the second quarter. Cetera Investment Advisers now owns 80,807 shares of the basic materials company's stock worth $549,000 after purchasing an additional 15,744 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group reiterated a "buy" rating and issued a $16.00 price target on shares of Uranium Energy in a research note on Tuesday, June 9th. HC Wainwright reiterated a "buy" rating on shares of Uranium Energy in a research report on Wednesday, August 26th. Finally, Jefferies Financial Group began coverage on Uranium Energy in a research report on Thursday, September 3rd. They set a "hold" rating and a $11.50 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.75.

Uranium Energy Stock Performance

Shares of Uranium Energy stock opened at $10.45 on Friday. Uranium Energy Corp. has a one year low of $8.90 and a one year high of $20.34. The company has a market cap of $5.17 billion, a P/E ratio of -87.08 and a beta of 1.23. The firm has a fifty day moving average of $10.87 and a two-hundred day moving average of $12.55.

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

Uranium Energy Company Profile

Uranium Energy Corp. (NYSE American: UEC) is a uranium mining and nuclear fuel company focused on the exploration, development and production of uranium in the United States and Canada. Its activities support the supply of uranium used to generate nuclear power.

The company's U.S. portfolio includes in-situ recovery uranium projects and processing infrastructure in South Texas and Wyoming. Its South Texas operations include the Hobson Processing Facility and nearby well-field projects, while its Wyoming assets include the Irigaray Central Processing Plant and the Christensen Ranch project.

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