NexGen Energy (NYSE:NXE) Shares Down 6.2%

NexGen Energy Ltd. (NYSE:NXE - Get Free Report) shares dropped 6.2% on Tuesday . The stock traded as low as $7.90 and last traded at $7.93. Approximately 1,810,817 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 6,238,408 shares. The stock had previously closed at $8.45.

Wall Street Analysts Forecast Growth

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

NexGen Energy Trading Down 9.8 %

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 $4.11 billion, a P/E ratio of 385.69 and a beta of 1.90. The company has a 50-day simple moving average of $7.67 and a 200-day simple moving average of $7.09.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NXE. Headlands Technologies LLC acquired a new stake in NexGen Energy in the 3rd quarter valued at $28,000. Financial Security Advisor Inc. bought a new stake in NexGen Energy during the third quarter worth about $61,000. Anchor Investment Management LLC bought a new position in NexGen Energy in the fourth quarter valued at approximately $63,000. Clear Street Markets LLC acquired a new position in shares of NexGen Energy during the 3rd quarter worth approximately $65,000. Finally, Spartan Fund Management Inc. acquired a new stake in shares of NexGen Energy in the 4th quarter valued at approximately $86,000. 42.43% of the stock is currently owned by institutional investors.

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.