HC Wainwright Issues Pessimistic Forecast for Westwater Resources (NASDAQ:WWR) Stock Price

Key Points

• HC Wainwright cut Westwater Resources’ price target to $1.50 from $1.75 but maintained a “Buy” rating, implying 263.64% upside from the prior close.
• Analyst sentiment remains positive, with three Buy ratings and a consensus price target of $2.17; however, WWR opened at just $0.41 and trades near its 52-week low of $0.38.
• Westwater is focused on developing the Coosa Graphite Project in Alabama to produce battery-grade graphite for electric vehicles and energy-storage markets, while institutional investors own 7.72% of the stock.

Westwater Resources (NASDAQ:WWR - Get Free Report) had its price objective cut by investment analysts at HC Wainwright from $1.75 to $1.50 in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage currently has a "buy" rating on the basic materials company's stock. HC Wainwright's target price would indicate a potential upside of 263.64% from the stock's previous close.

• West Water Resources NASDAQ: WWR Stock is an Under-the-Radar EV Battery Play

WWR has been the topic of several other research reports. Maxim Group started coverage on shares of Westwater Resources in a research report on Wednesday, April 15th. They set a "buy" rating and a $2.00 price target on the stock. D. Boral Capital initiated coverage on shares of Westwater Resources in a research report on Thursday, June 11th. They issued a "buy" rating and a $3.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $2.17.

Westwater Resources Price Performance

Shares of NASDAQ:WWR opened at $0.41 on Monday. Westwater Resources has a 52-week low of $0.38 and a 52-week high of $3.75. The business has a fifty day moving average of $0.49 and a two-hundred day moving average of $0.69. The stock has a market cap of $52.44 million, a P/E ratio of -3.17 and a beta of 1.59.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WWR. Soviero Asset Management LP acquired a new stake in Westwater Resources in the third quarter valued at $446,000. Two Sigma Investments LP acquired a new position in Westwater Resources in the third quarter valued at $972,000. Centiva Capital LP purchased a new position in shares of Westwater Resources during the third quarter worth about $64,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Westwater Resources during the fourth quarter worth about $154,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Westwater Resources during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 7.72% of the company's stock.

About Westwater Resources

Westwater Resources, Inc NASDAQ: WWR is a Houston‐based mineral development company focused on advancing sustainable sources of battery‐grade graphite for the lithium‐ion battery market. The company’s primary asset is the Coosa Graphite Project in east‐central Alabama, where Westwater is working to establish a fully integrated, U.S.‐based supply chain for natural spherical graphite. By leveraging in‐house purification and spheronization technology, Westwater aims to produce high‐purity graphite suitable for electric vehicle and stationary energy storage applications.

Originally founded as a diversified natural resources company, Westwater Resources has realigned its strategy toward critical battery minerals.

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