Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Down - Here's What Happened

Key Points

• Uranium Energy shares gapped down from a $12.24 prior close to a $11.60 open, later trading around $11.75 on volume of approximately 1.28 million shares.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $17.41; Goldman Sachs set a $16 target.
• The company missed its latest quarterly EPS estimate, reporting a loss of $0.07 per share versus the expected $0.03 loss. Institutional investors own 62.28% of the stock, with several firms increasing their positions.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $12.24, but opened at $11.60. Uranium Energy shares last traded at $11.7540, with a volume of 1,283,444 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. HC Wainwright restated a "buy" rating on shares of Uranium Energy in a report on Wednesday, August 26th. The Goldman Sachs Group reissued a "buy" rating and set a $16.00 price objective on shares of Uranium Energy in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.41.

Uranium Energy Price Performance

The company's 50 day moving average price is $10.76 and its 200 day moving average price is $12.80. The firm has a market capitalization of $5.80 billion, a P/E ratio of -97.74 and a beta of 1.22.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). On average, research analysts anticipate that Uranium Energy Corp. will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in Uranium Energy by 56.6% during the first quarter. AQR Capital Management LLC now owns 222,582 shares of the basic materials company's stock worth $1,064,000 after purchasing an additional 80,464 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Uranium Energy during the 1st quarter valued at $173,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Uranium Energy by 44.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,367,597 shares of the basic materials company's stock worth $6,537,000 after buying an additional 423,994 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Uranium Energy by 114.0% in the first quarter. Focus Partners Wealth now owns 36,427 shares of the basic materials company's stock worth $174,000 after buying an additional 19,407 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Uranium Energy by 24.2% during the second quarter. Cetera Investment Advisers now owns 80,807 shares of the basic materials company's stock valued at $549,000 after acquiring an additional 15,744 shares during the last quarter. Institutional investors own 62.28% of the company's stock.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company's core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy's approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company's primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.

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