Alpha Wave Global LP Has $2.17 Million Position in NexGen Energy $NXE

Key Points

• Alpha Wave Global LP reduced its holdings in NexGen Energy by 37.7%, selling 291,995 shares and bringing its total ownership down to 482,121 shares.
• Despite the reduction, a number of institutional investors like Old West Investment Management and BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp have increased their positions in NexGen Energy during the same period.
• NexGen Energy currently holds a consensus rating of "Buy" from analysts, with two ratings as Strong Buy and five as Buy.

Alpha Wave Global LP reduced its position in shares of NexGen Energy (NYSE:NXE - Free Report) by 37.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 482,121 shares of the company's stock after selling 291,995 shares during the period. NexGen Energy comprises about 1.0% of Alpha Wave Global LP's investment portfolio, making the stock its 11th biggest position. Alpha Wave Global LP owned 0.08% of NexGen Energy worth $2,165,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NXE. Packer & Co Ltd bought a new position in NexGen Energy during the 1st quarter valued at about $13,581,000. Anson Funds Management LP bought a new position in NexGen Energy during the 1st quarter valued at about $7,846,000. Alps Advisors Inc. lifted its holdings in NexGen Energy by 8.3% during the 1st quarter. Alps Advisors Inc. now owns 17,045,672 shares of the company's stock valued at $76,535,000 after purchasing an additional 1,299,255 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in NexGen Energy during the 4th quarter valued at about $7,831,000. Finally, Kapitalo Investimentos Ltda bought a new position in NexGen Energy during the 1st quarter valued at about $4,665,000. 42.43% of the stock is owned by institutional investors.

NexGen Energy Trading Up 2.7%

Shares of NYSE:NXE traded up $0.19 during trading on Thursday, hitting $7.43. 6,415,865 shares of the company's stock were exchanged, compared to its average volume of 6,734,484. NexGen Energy has a 1-year low of $3.91 and a 1-year high of $8.96. The firm has a 50-day moving average price of $6.86 and a two-hundred day moving average price of $5.90. The firm has a market cap of $4.25 billion, a P/E ratio of -29.73 and a beta of 1.45.

NexGen Energy (NYSE:NXE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.08). As a group, research analysts predict that NexGen Energy will post -0.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NXE shares. Desjardins started coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They issued a "buy" rating for the company. TD Securities reaffirmed a "buy" rating on shares of NexGen Energy in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy".

NexGen Energy Profile

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.