Short Interest in NexGen Energy Ltd. (NYSE:NXE) Grows By 25.0%

NexGen Energy Ltd. (NYSE:NXE - Get Free Report) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 77,450,000 shares, an increase of 25.0% from the March 15th total of 61,960,000 shares. Currently, 14.4% of the company's stock are short sold. Based on an average daily volume of 9,980,000 shares, the days-to-cover ratio is presently 7.8 days.

Hedge Funds Weigh In On NexGen Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in NexGen Energy by 10.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,345 shares of the company's stock worth $101,000 after acquiring an additional 1,500 shares during the last quarter. Invesco Ltd. raised its stake in shares of NexGen Energy by 6.7% during the fourth quarter. Invesco Ltd. now owns 26,399 shares of the company's stock valued at $174,000 after acquiring an additional 1,656 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of NexGen Energy by 2.6% during the fourth quarter. Cetera Investment Advisers now owns 104,611 shares of the company's stock valued at $690,000 after buying an additional 2,648 shares during the period. Hsbc Holdings PLC raised its holdings in shares of NexGen Energy by 22.8% in the 4th quarter. Hsbc Holdings PLC now owns 18,729 shares of the company's stock valued at $124,000 after purchasing an additional 3,473 shares in the last quarter. Finally, Tcfg Wealth Management LLC raised its stake in NexGen Energy by 6.3% in the fourth quarter. Tcfg Wealth Management LLC now owns 62,500 shares of the company's stock worth $412,000 after buying an additional 3,700 shares in the last quarter. 42.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NXE shares. Raymond James restated an "outperform" rating on shares of NexGen Energy in a report on Friday, April 4th. Scotiabank reiterated an "outperform" rating on shares of NexGen Energy in a research note on Thursday, March 6th. Stifel Nicolaus began coverage on shares of NexGen Energy in a research report on Wednesday, March 12th. They set a "buy" rating for the company. Finally, Stifel Canada raised NexGen Energy to a "strong-buy" rating in a research note on Tuesday, March 11th. Three equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, NexGen Energy has a consensus rating of "Strong Buy".

NexGen Energy Stock Down 1.1 %

NYSE NXE traded down $0.06 on Friday, reaching $5.06. The company had a trading volume of 1,595,718 shares, compared to its average volume of 9,771,570. The stock has a market capitalization of $2.88 billion, a PE ratio of 33.76 and a beta of 2.02. The firm's 50 day moving average price is $4.85 and its 200 day moving average price is $6.45. NexGen Energy has a 12 month low of $3.91 and a 12 month high of $8.96.

About NexGen Energy

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.