Uranium Energy (NYSEAMERICAN:UEC) Price Target Raised to $12.75

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 target price increased by investment analysts at HC Wainwright from $12.25 to $12.75 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. HC Wainwright's target price indicates a potential upside of 25.25% from the stock's current price.

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

Uranium Energy Price Performance

NYSEAMERICAN UEC traded up $0.33 on Wednesday, reaching $10.18. The company had a trading volume of 15,526,508 shares, compared to its average volume of 14,573,904. Uranium Energy has a fifty-two week low of $3.85 and a fifty-two week high of $10.36. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of -59.88 and a beta of 1.44. The business has a 50 day moving average of $7.32 and a two-hundred day moving average of $6.34.

Insider Transactions at Uranium Energy

In other Uranium Energy news, Director David Kong sold 50,800 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total transaction of $488,696.00. Following the completion of the transaction, the director owned 182,237 shares in the company, valued at $1,753,119.94. This trade represents a 21.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc bought a new stake in Uranium Energy during the first quarter valued at about $27,000. IFP Advisors Inc raised its position 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 purchasing 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 first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock valued at $36,000 after buying an additional 2,364 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Uranium Energy in the 1st quarter valued at $36,000. Finally, Oarsman Capital Inc. lifted its holdings in shares of Uranium Energy by 900.0% in the 1st quarter. Oarsman Capital Inc. now owns 10,000 shares of the basic materials company's stock worth $48,000 after acquiring an additional 9,000 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors.

About Uranium Energy

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.