HC Wainwright Reiterates "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 reaffirmed by HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $2.00 target price on the basic materials company's stock. HC Wainwright's price target suggests a potential upside of 154.49% from the stock's current price.

Separately, Wall Street Zen assumed coverage on shares of Westwater Resources in a research report on Wednesday, May 21st. They issued a "sell" rating on the stock.

Westwater Resources Price Performance

Shares of Westwater Resources stock opened at $0.79 on Friday. Westwater Resources has a fifty-two week low of $0.45 and a fifty-two week high of $1.32. The firm has a market capitalization of $60.05 million, a P/E ratio of -6.05 and a beta of 1.18. The company's 50 day moving average price is $0.67 and its two-hundred day moving average price is $0.64.

Hedge Funds Weigh In On Westwater Resources

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Westwater Resources by 16.7% during the fourth quarter. Geode Capital Management LLC now owns 608,045 shares of the basic materials company's stock worth $431,000 after purchasing an additional 87,087 shares during the period. Squarepoint Ops LLC raised its stake in Westwater Resources by 30.4% during the fourth quarter. Squarepoint Ops LLC now owns 177,965 shares of the basic materials company's stock worth $126,000 after buying an additional 41,515 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Westwater Resources during the first quarter worth $84,000. Pinnacle Associates Ltd. raised its stake in Westwater Resources by 53.0% during the first quarter. Pinnacle Associates Ltd. now owns 133,900 shares of the basic materials company's stock worth $74,000 after buying an additional 46,400 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Westwater Resources by 34.7% during the fourth quarter. Northern Trust Corp now owns 127,960 shares of the basic materials company's stock worth $91,000 after buying an additional 32,952 shares during the last quarter. Institutional investors and hedge funds own 7.72% of the company's stock.

About Westwater Resources

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.