HC Wainwright Issues Positive Forecast for Uranium Energy (NYSEAMERICAN:UEC) Stock Price

Key Points

• HC Wainwright raised the price target for Uranium Energy (UEC) from $12.25 to $12.75, signaling a potential upside of 34.21% from its previous close.
• BMO Capital Markets has initiated coverage, giving UEC an "outperform" rating with a price target of $7.75, while the average consensus target price is currently at $10.21.
• Institutional investments in UEC have surged, with IFP Advisors increasing its position by 732.8% and Oarsman Capital raising its investment by 900.0% in the last quarter.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) had its price objective increased by analysts at HC Wainwright from $12.25 to $12.75 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the basic materials company's stock. HC Wainwright's price target indicates a potential upside of 27.56% from the company's previous close.

Separately, BMO Capital Markets assumed coverage on shares of Uranium Energy in a report on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 target price for the company. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Uranium Energy currently has an average rating of "Buy" and an average price target of $10.21.

Uranium Energy Stock Performance

Shares of Uranium Energy stock traded up $0.15 on Wednesday, hitting $10.00. The company's stock had a trading volume of 3,276,814 shares, compared to its average volume of 10,854,063. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of -58.79 and a beta of 1.44. Uranium Energy has a 1 year low of $3.85 and a 1 year high of $10.36. The firm has a fifty day moving average price of $7.24 and a 200-day moving average price of $6.33.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc acquired a new position in Uranium Energy during the first quarter worth approximately $27,000. IFP Advisors Inc increased its holdings in shares of Uranium Energy by 732.8% during the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company's stock worth $27,000 after buying an additional 3,503 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Uranium Energy by 43.5% in the 1st 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 period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Uranium Energy in the 1st quarter worth $36,000. Finally, Oarsman Capital Inc. boosted its holdings in Uranium Energy by 900.0% in the first quarter. Oarsman Capital Inc. now owns 10,000 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 9,000 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

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.