NexGen Energy (NYSE:NXE) Trading 5.7% Higher - What's Next?

Key Points

• NexGen Energy shares rose by 5.7% to close at $9.27, despite a decrease in trading volume compared to average sessions.
• Research analysts have given the stock a consensus rating of "Moderate Buy", with ratings ranging from Strong Buy to Sell.
• The company reported a quarterly loss of ($0.10) earnings per share, missing analysts' expectations by ($0.08).

NexGen Energy (NYSE:NXE - Get Free Report) shares traded up 5.7% on Friday . The stock traded as high as $9.29 and last traded at $9.27. 6,088,631 shares were traded during trading, a decline of 34% from the average session volume of 9,170,784 shares. The stock had previously closed at $8.77.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Raymond James Financial restated an "outperform" rating on shares of NexGen Energy in a research report on Friday. TD Securities restated a "buy" rating on shares of NexGen Energy in a research report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of NexGen Energy in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy".

NexGen Energy Stock Up 2.7%

The firm has a market cap of $5.18 billion, a PE ratio of -36.15 and a beta of 1.44. The firm's 50 day moving average is $7.82 and its 200-day moving average is $6.55.

NexGen Energy (NYSE:NXE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.08). On average, analysts forecast that NexGen Energy will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On NexGen Energy

Large investors have recently bought and sold shares of the stock. Canton Hathaway LLC purchased a new position in NexGen Energy during the second quarter worth approximately $57,000. Compound Planning Inc. purchased a new position in NexGen Energy during the first quarter worth approximately $46,000. Olympiad Research LP acquired a new stake in shares of NexGen Energy in the second quarter worth $73,000. Flow Traders U.S. LLC acquired a new stake in shares of NexGen Energy in the second quarter worth $76,000. Finally, PenderFund Capital Management Ltd. increased its position in shares of NexGen Energy by 45.0% in the first quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company's stock worth $52,000 after acquiring an additional 3,600 shares in the last quarter. Hedge funds and other institutional investors own 42.43% of the company's stock.

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.

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