Uranium Energy Corp. $UEC Stock Acquired by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates increased its Uranium Energy stake by 10.7% in the third quarter, adding 172,851 shares to own 1.79 million shares worth approximately $16.9 million. Institutional investors and hedge funds collectively own 62.28% of the company.
• Uranium Energy shares opened at $7.83, near the lower end of their 52-week range of $7.27 to $20.34. The company’s latest quarterly results missed EPS expectations, reporting a $0.12 loss per share despite revenue of $17.05 million.
• Analyst sentiment remains mixed but leans positive, with an average rating of “Moderate Buy” and an average price target of $16.75. Price targets range from $10.00 to $26.75, while ratings include five Buys, two Holds, and one Sell.

Pinnacle Associates Ltd. lifted its holdings in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 10.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,788,882 shares of the basic materials company's stock after purchasing an additional 172,851 shares during the period. Pinnacle Associates Ltd. owned about 0.36% of Uranium Energy worth $16,905,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. PenderFund Capital Management Ltd. acquired a new stake in Uranium Energy during the 2nd quarter valued at $35,000. Caitong International Asset Management Co. Ltd purchased a new position in Uranium Energy during the fourth quarter worth $39,000. EFG International AG acquired a new position in shares of Uranium Energy in the second quarter worth $43,000. Longview Financial Advisors Inc. acquired a new position in shares of Uranium Energy in the first quarter worth $52,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Uranium Energy in the second quarter valued at $57,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Uranium Energy Stock Down 0.8%

Shares of NYSEAMERICAN:UEC opened at $7.83 on Wednesday. The company has a market cap of $3.88 billion, a P/E ratio of -27.96 and a beta of 1.38. Uranium Energy Corp. has a 52 week low of $7.27 and a 52 week high of $20.34. The business has a fifty day simple moving average of $10.43 and a 200-day simple moving average of $11.64.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last released 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 company had revenue of $17.05 million during the quarter, compared to analysts' expectations of $9.00 million. Sell-side analysts expect that Uranium Energy Corp. will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. HC Wainwright reaffirmed a "buy" rating and set a $26.75 price objective on shares of Uranium Energy in a research note on Wednesday, September 30th. Jefferies Financial Group assumed coverage on Uranium Energy in a research report on Thursday, September 3rd. They set a "hold" rating and a $11.50 price objective for the company. Royal Bank Of Canada started coverage on shares of Uranium Energy in a research note on Friday, October 2nd. They issued a "sector perform" rating and a $10.00 target price for the company. National Bank Financial reduced their target price on shares of Uranium Energy from $16.00 to $15.00 and set an "outperform" rating on the stock in a report on Monday, October 5th. Finally, Zacks Research lowered shares of Uranium Energy from a "hold" rating to a "strong sell" rating in a report on Monday, October 5th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Uranium Energy presently has an average rating of "Moderate Buy" and an average price target of $16.75.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company focused on developing and producing uranium in the United States. The company uses in-situ recovery (ISR) technology, which extracts uranium from underground deposits by circulating a solution through the orebody and processing the recovered materials into uranium concentrate, commonly known as yellowcake.

Uranium Energy's U.S. assets include projects and processing infrastructure in South Texas and Wyoming. Its South Texas operations include the Hobson processing plant and nearby ISR projects, while its Wyoming portfolio includes the Christensen Ranch and other properties in the Powder River Basin.

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