Avantax Advisory Services Inc. Sells 27,557 Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC)

Key Points

• Avantax Advisory Services Inc. reduced its stake in Uranium Energy Corp. by 63.3%, now owning 15,963 shares valued at $76,000 after selling 27,557 shares in the first quarter.
• Several hedge funds increased their holdings, including Versant Capital Management which acquired a new stake valued at approximately $27,000 and Farther Finance Advisors LLC which lifted its stake by 43.5%.
• Uranium Energy has a consensus rating of "Buy" from analysts, with a price target increase from $12.25 to $12.75 by HC Wainwright.

Avantax Advisory Services Inc. lessened its stake in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 63.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 15,963 shares of the basic materials company's stock after selling 27,557 shares during the period. Avantax Advisory Services Inc.'s holdings in Uranium Energy were worth $76,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of UEC. Versant Capital Management Inc purchased a new position in shares of Uranium Energy during the first quarter valued at $27,000. Farther Finance Advisors LLC increased its position in Uranium Energy by 43.5% during the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock worth $36,000 after buying an additional 2,364 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Uranium Energy during the first quarter worth $36,000. Altshuler Shaham Ltd acquired a new stake in shares of Uranium Energy in the fourth quarter valued at about $67,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Uranium Energy in the fourth quarter valued at about $76,000. Institutional investors and hedge funds own 62.28% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on UEC. BMO Capital Markets began coverage on Uranium Energy in a research report on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 target price on the stock. The Goldman Sachs Group began coverage on Uranium Energy in a research report on Monday. They set a "buy" rating and a $13.00 target price on the stock. Finally, HC Wainwright lifted their target price on Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Uranium Energy currently has a consensus rating of "Buy" and an average target price of $10.61.

Insider Buying and Selling

In other news, Director David Kong sold 50,800 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total value of $488,696.00. Following the completion of the transaction, the director owned 182,237 shares of the company's stock, valued at $1,753,119.94. The trade was a 21.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company's stock.

Uranium Energy Stock Performance

UEC traded up $0.64 during trading on Tuesday, reaching $10.33. 13,645,664 shares of the company's stock were exchanged, compared to its average volume of 14,984,566. The company's fifty day moving average price is $7.48 and its 200-day moving average price is $6.37. Uranium Energy Corp. has a fifty-two week low of $3.85 and a fifty-two week high of $10.36. The firm has a market capitalization of $4.59 billion, a PE ratio of -60.76 and a beta of 1.44.

Uranium Energy Company 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.