Uranium Energy (NYSEAMERICAN:UEC) Sets New 1-Year Low - Here's Why

Key Points

• Uranium Energy shares fell to a new 52-week low of $7.25, below the 50-day moving average of $10.29 and 200-day moving average of $11.56.
• Analyst sentiment is mixed: the stock carries a “Moderate Buy” consensus with an average price target of $16.75, but ratings range from “Buy” to “Strong Sell.”
• The company reported a quarterly loss of $0.12 per share, missing the $0.04 consensus estimate, despite revenue of $17.05 million exceeding expectations; institutional investors own 62.28% of the stock.

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) reached a new 52-week low during trading on Friday. The company traded as low as $7.25 and last traded at $7.2370, with a volume of 907,961 shares changing hands. The stock had previously closed at $7.48.

Wall Street Analyst Weigh In

Several brokerages have commented on UEC. Jefferies Financial Group initiated coverage on shares of Uranium Energy in a report on Thursday, September 3rd. They issued a "hold" rating and a $11.50 target price for the company. HC Wainwright restated a "buy" rating and set a $26.75 price target on shares of Uranium Energy in a report on Wednesday, September 30th. Zacks Research lowered shares of Uranium Energy from a "hold" rating to a "strong sell" rating in a report on Monday, October 5th. Royal Bank Of Canada started coverage on shares of Uranium Energy in a research report on Friday, October 2nd. They issued a "sector perform" rating and a $10.00 price target for the company. Finally, National Bank Financial decreased their price objective on shares of Uranium Energy from $16.00 to $15.00 and set an "outperform" rating for the company in a research note on Monday, October 5th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $16.75.

Uranium Energy Stock Performance

The stock has a market capitalization of $3.64 billion, a PE ratio of -26.20 and a beta of 1.38. The firm has a 50 day moving average of $10.29 and a 200-day moving average of $11.56.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last released its earnings results on Tuesday, September 29th. The basic materials company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The business had revenue of $17.05 million during the quarter, compared to the consensus estimate of $9.00 million. On average, sell-side analysts predict that Uranium Energy Corp. will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On Uranium Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its holdings in shares of Uranium Energy by 839.5% during the 3rd quarter. Sterling Capital Management LLC now owns 16,328 shares of the basic materials company's stock valued at $154,000 after buying an additional 14,590 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Uranium Energy by 12.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 16,477 shares of the basic materials company's stock valued at $156,000 after buying an additional 1,878 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Uranium Energy by 10.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,788,882 shares of the basic materials company's stock valued at $16,905,000 after buying an additional 172,851 shares in the last quarter. Abel Hall LLC bought a new stake in shares of Uranium Energy in the 3rd quarter valued at approximately $256,000. Finally, Vontobel Holding Ltd. increased its holdings in Uranium Energy by 13.6% in the third quarter. Vontobel Holding Ltd. now owns 36,301 shares of the basic materials company's stock worth $342,000 after buying an additional 4,343 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.

Uranium Energy Company Profile

Uranium Energy Corp. is a uranium mining and exploration company focused on developing and producing uranium in the United States. The company uses in-situ recovery (ISR) technology, which extracts uranium from underground deposits by circulating a solution through the orebody and processing the recovered materials into uranium concentrate, commonly known as yellowcake.

Uranium Energy's U.S. assets include projects and processing infrastructure in South Texas and Wyoming. Its South Texas operations include the Hobson processing plant and nearby ISR projects, while its Wyoming portfolio includes the Christensen Ranch and other properties in the Powder River Basin.

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