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

Key Points

• NexGen Energy saw unusually heavy options activity, with traders buying 12,558 call options on Wednesday, about 62% above its average daily call volume.
• The stock fell 1.0% to $9.26 during the session and traded below its average volume, while still carrying a market cap of about $6.2 billion.
• Analyst sentiment remains mixed: the stock has a Moderate Buy consensus overall, with four Buy ratings, one Hold, and one Sell, alongside a recent Sell rating from Weiss Ratings and an Outperform from Scotiabank.

NexGen Energy (NYSE:NXE - Get Free Report) saw unusually large options trading on Wednesday. Stock traders bought 12,558 call options on the stock. This represents an increase of 62% compared to the average daily volume of 7,751 call options.

Institutional Investors Weigh In On NexGen Energy

Several institutional investors have recently modified their holdings of NXE. Leonteq Securities AG lifted its holdings in shares of NexGen Energy by 88.2% in the 1st quarter. Leonteq Securities AG now owns 2,343 shares of the company's stock worth $28,000 after acquiring an additional 1,098 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in NexGen Energy by 454.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company's stock worth $73,000 after acquiring an additional 6,528 shares in the last quarter. Tcfg Wealth Management LLC purchased a new position in NexGen Energy during the 1st quarter valued at about $116,000. Jump Financial LLC purchased a new position in NexGen Energy during the 4th quarter valued at about $93,000. Finally, First Trust Advisors LP bought a new position in shares of NexGen Energy in the 3rd quarter worth $94,000. 42.43% of the stock is owned by institutional investors.

NexGen Energy Trading Down 1.0%

Shares of NYSE:NXE traded down $0.10 during mid-day trading on Wednesday, reaching $9.26. The stock had a trading volume of 4,374,254 shares, compared to its average volume of 7,316,329. The company has a market cap of $6.20 billion, a P/E ratio of -18.91 and a beta of 1.39. NexGen Energy has a 1 year low of $6.26 and a 1 year high of $13.96. The business's 50 day moving average price is $10.59 and its 200 day moving average price is $11.36.

Analysts Set New Price Targets

NXE has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Scotiabank reissued an "outperform" rating on shares of NexGen Energy in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

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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