Westwater Resources (NASDAQ:WWR) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Westwater Resources shares briefly rose above their 200-day moving average of $0.60, reaching $0.6076 before last trading at $0.5841 on volume of about 1.01 million shares.
• Analysts maintain a consensus “Buy” rating from three analysts, with an average price target of $2.17. HC Wainwright lowered its target to $1.50, while D. Boral Capital initiated coverage with a $3.00 target.
• Company insiders sold 148,000 shares worth approximately $97,700 during the last quarter, while hedge funds and institutional investors own 7.72% of the stock.

Westwater Resources, Inc. (NASDAQ:WWR - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.60 and traded as high as $0.6076. Westwater Resources shares last traded at $0.5841, with a volume of 1,007,829 shares changing hands.

Analyst Upgrades and Downgrades

• West Water Resources NASDAQ: WWR Stock is an Under-the-Radar EV Battery Play

A number of brokerages recently commented on WWR. HC Wainwright dropped their price target on Westwater Resources from $1.75 to $1.50 and set a "buy" rating on the stock in a report on Monday, August 3rd. D. Boral Capital assumed coverage on Westwater Resources in a research note on Thursday, June 11th. They issued a "buy" rating and a $3.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $2.17.

Westwater Resources Stock Performance

The company has a market cap of $75.09 million, a P/E ratio of -4.49 and a beta of 1.67. The firm has a 50 day moving average price of $0.51 and a two-hundred day moving average price of $0.60.

Insider Transactions at Westwater Resources

In other Westwater Resources news, Director Karli S. Anderson sold 50,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $0.76, for a total transaction of $38,000.00. Following the completion of the transaction, the director owned 790,909 shares in the company, valued at $601,090.84. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tracy D. Pagliara sold 50,000 shares of Westwater Resources stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $0.57, for a total transaction of $28,500.00. Following the completion of the transaction, the director owned 873,888 shares of the company's stock, valued at $498,116.16. The trade was a 5.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 148,000 shares of company stock valued at $97,700 in the last quarter. Company insiders own 4.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Centiva Capital LP purchased a new stake in shares of Westwater Resources during the third quarter worth $64,000. Evernest Financial Advisors LLC raised its stake in shares of Westwater Resources by 200.0% during the 1st quarter. Evernest Financial Advisors LLC now owns 120,000 shares of the basic materials company's stock valued at $79,000 after purchasing an additional 80,000 shares during the period. Alps Advisors Inc. bought a new stake in shares of Westwater Resources during the 4th quarter valued at $89,000. OMERS ADMINISTRATION Corp purchased a new stake in Westwater Resources during the 1st quarter worth about $87,000. Finally, State Street Corp lifted its holdings in Westwater Resources by 141.5% during the 4th quarter. State Street Corp now owns 357,505 shares of the basic materials company's stock worth $268,000 after purchasing an additional 209,500 shares in the last quarter. 7.72% of the stock is currently owned by hedge funds and other institutional investors.

About Westwater Resources

Westwater Resources, Inc NASDAQ: WWR is a Houston‐based mineral development company focused on advancing sustainable sources of battery‐grade graphite for the lithium‐ion battery market. The company’s primary asset is the Coosa Graphite Project in east‐central Alabama, where Westwater is working to establish a fully integrated, U.S.‐based supply chain for natural spherical graphite. By leveraging in‐house purification and spheronization technology, Westwater aims to produce high‐purity graphite suitable for electric vehicle and stationary energy storage applications.

Originally founded as a diversified natural resources company, Westwater Resources has realigned its strategy toward critical battery minerals.

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