Investors Purchase Large Volume of NexGen Energy Put Options (NYSE:NXE)

NexGen Energy Ltd. (NYSE:NXE - Get Free Report) was the target of some unusual options trading activity on Wednesday. Investors acquired 42,539 put options on the company. This is an increase of approximately 591% compared to the average daily volume of 6,159 put options.

Wall Street Analysts Forecast Growth

Separately, Scotiabank began coverage on shares of NexGen Energy in a research note on Monday, April 1st. They set a "sector outperform" rating for the company.

NexGen Energy Stock Down 2.2 %

Shares of NYSE:NXE traded down $0.17 during trading on Wednesday, reaching $7.67. 3,836,802 shares of the stock traded hands, compared to its average volume of 6,501,668. The stock has a 50-day moving average of $7.62 and a two-hundred day moving average of $6.96. NexGen Energy has a 52-week low of $3.49 and a 52-week high of $8.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 11.00 and a current ratio of 11.00. The stock has a market cap of $4.14 billion, a P/E ratio of 383.50 and a beta of 1.90.

NexGen Energy (NYSE:NXE - Get Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.05). As a group, sell-side analysts expect that NexGen Energy will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NexGen Energy

A number of institutional investors have recently made changes to their positions in the company. Avalon Capital Management grew its holdings in shares of NexGen Energy by 8.3% during the first quarter. Avalon Capital Management now owns 54,671 shares of the company's stock valued at $425,000 after buying an additional 4,173 shares during the last quarter. Southland Equity Partners LLC grew its holdings in shares of NexGen Energy by 22.0% during the first quarter. Southland Equity Partners LLC now owns 21,327 shares of the company's stock valued at $166,000 after buying an additional 3,840 shares during the last quarter. Rye Brook Capital LLC boosted its holdings in NexGen Energy by 21.3% in the first quarter. Rye Brook Capital LLC now owns 370,500 shares of the company's stock worth $2,879,000 after purchasing an additional 65,000 shares during the last quarter. Kingdon Capital Management L.L.C. purchased a new stake in NexGen Energy in the fourth quarter worth approximately $7,000,000. Finally, Goldman Sachs Group Inc. boosted its holdings in NexGen Energy by 74.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,341,885 shares of the company's stock worth $23,393,000 after purchasing an additional 1,430,709 shares during 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 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.