HC Wainwright Reaffirms "Buy" Rating for Westwater Resources (NASDAQ:WWR)

Key Points

• HC Wainwright has maintained a "buy" rating for Westwater Resources (NASDAQ: WWR) and set a target price of $2.00, indicating a potential upside of 154.49% from its current price.
• Westwater Resources' stock currently trades at $0.79 with a fifty-two week range of $0.45 to $1.32 and has a market capitalization of $60.05 million.
• Several hedge funds have increased their holdings in Westwater Resources, with Geode Capital Management boosting its stake by 16.7% recently.

Westwater Resources (NASDAQ:WWR - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $2.00 price target on the basic materials company's stock. HC Wainwright's price target points to a potential upside of 175.48% from the company's previous close.

Separately, Wall Street Zen began coverage on shares of Westwater Resources in a research note on Wednesday, May 21st. They issued a "sell" rating on the stock. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $2.00.

Westwater Resources Price Performance

Shares of NASDAQ:WWR traded down $0.0055 during midday trading on Friday, reaching $0.7260. The company had a trading volume of 1,098,423 shares, compared to its average volume of 1,083,539. The stock has a market capitalization of $62.60 million, a P/E ratio of -5.68 and a beta of 1.18. The stock's fifty day moving average price is $0.69 and its 200-day moving average price is $0.63. Westwater Resources has a one year low of $0.45 and a one year high of $1.3191.

Institutional Investors Weigh In On Westwater Resources

Several large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its stake in Westwater Resources by 165.3% in the fourth quarter. Jane Street Group LLC now owns 56,249 shares of the basic materials company's stock valued at $40,000 after buying an additional 35,046 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Westwater Resources in the 1st quarter worth about $55,000. Renaissance Technologies LLC lifted its position in Westwater Resources by 536.3% in the 4th quarter. Renaissance Technologies LLC now owns 99,201 shares of the basic materials company's stock valued at $70,000 after purchasing an additional 83,611 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Westwater Resources by 53.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 133,900 shares of the basic materials company's stock valued at $74,000 after purchasing an additional 46,400 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Westwater Resources during the 1st quarter valued at about $84,000. 7.72% of the stock is owned by institutional investors and hedge funds.

Westwater Resources Company Profile

Westwater Resources, Inc operates as an energy technology company, focuses on developing battery-grade natural graphite materials. The company holds interests in Kellyton Graphite Plant located in Kellyton, Alabama; and Bama Mine Project situated in south Alabama. It holds interests in Coosa graphite project located in Coosa County, Alabama.