NexGen Energy (NYSE:NXE) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded NexGen Energy from “strong sell” to “sell,” while overall analyst sentiment remains mixed with a consensus “Hold” rating.
• NexGen shares opened at $10.41, up 1.8%, with a market capitalization of approximately $6.97 billion and a 12-month trading range of $6.26 to $13.96.
• Institutional investors and hedge funds own 42.43% of the company, and NexGen continues advancing its flagship Rook I uranium project and high-grade Arrow deposit in Saskatchewan.

NexGen Energy (NYSE:NXE - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued on Saturday.

A number of other brokerages have also recently weighed in on NXE. Weiss Ratings restated a "sell (d-)" rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Scotiabank reiterated an "outperform" rating on shares of NexGen Energy in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, NexGen Energy has a consensus rating of "Hold".

NexGen Energy Trading Up 1.8%

Shares of NYSE NXE opened at $10.41 on Friday. The stock has a market capitalization of $6.97 billion, a PE ratio of -26.04 and a beta of 1.40. The stock's fifty day simple moving average is $9.82 and its two-hundred day simple moving average is $11.22. NexGen Energy has a 12-month low of $6.26 and a 12-month high of $13.96.

Institutional Investors Weigh In On NexGen Energy

Several institutional investors have recently bought and sold shares of the company. Leonteq Securities AG increased its position in shares of NexGen Energy by 88.2% during the first quarter. Leonteq Securities AG now owns 2,343 shares of the company's stock worth $28,000 after purchasing an additional 1,098 shares in the last quarter. Trifecta Capital Advisors LLC acquired a new stake in shares of NexGen Energy in the 2nd quarter worth $46,000. SBI Securities Co. Ltd. boosted its position in shares of NexGen Energy by 454.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company's stock worth $73,000 after purchasing an additional 6,528 shares in the last quarter. Tcfg Wealth Management LLC purchased a new position in NexGen Energy during the 1st quarter worth $116,000. Finally, Jump Financial LLC purchased a new position in NexGen Energy during the 4th quarter worth $93,000. 42.43% of the stock is currently owned by institutional investors and hedge funds.

About NexGen Energy

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company's primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen's technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world's most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.

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