NexGen Energy Sees Unusually High Options Volume (NYSE:NXE)

Key Points

• NexGen Energy’s call-option activity surged: Traders purchased 30,019 call options, up 305% from the average daily volume of 7,415.
• Analyst sentiment remains mixed: Three analysts rate NXE Buy, one Hold, and one Sell, resulting in a consensus rating of “Hold.”
• Institutional investors own 42.43% of the company, while NXE shares rose to $10.76 during Monday’s trading, within a 12-month range of $6.26 to $13.96.

NexGen Energy (NYSE:NXE - Get Free Report) saw unusually large options trading activity on Monday. Stock traders purchased 30,019 call options on the stock. This is an increase of 305% compared to the average daily volume of 7,415 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NXE. Weiss Ratings reissued a "sell (d-)" rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Wall Street Zen raised shares of NexGen Energy from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Scotiabank reiterated an "outperform" rating on shares of NexGen Energy in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold".

Institutional Trading of NexGen Energy

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE bought a new position in shares of NexGen Energy during the 2nd quarter valued at about $13,674,000. Man Group plc bought a new stake in shares of NexGen Energy in the second quarter worth about $2,583,000. Jupiter Topco LLC purchased a new stake in shares of NexGen Energy in the second quarter worth about $5,064,000. Raffles Associates LP purchased a new stake in shares of NexGen Energy in the second quarter worth about $939,000. Finally, Legal & General Group Plc bought a new position in NexGen Energy during the second quarter valued at approximately $6,481,000. Hedge funds and other institutional investors own 42.43% of the company's stock.

NexGen Energy Stock Performance

NXE traded up $0.37 during trading on Monday, reaching $10.76. 12,038,177 shares of the company traded hands, compared to its average volume of 7,025,167. The company has a market cap of $7.20 billion, a P/E ratio of -26.90 and a beta of 1.40. NexGen Energy has a 12-month low of $6.26 and a 12-month high of $13.96. The firm has a fifty day simple moving average of $9.73 and a 200 day simple moving average of $11.15.

NexGen Energy Company Profile

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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