Short Interest in Westwater Resources, Inc. (NASDAQ:WWR) Increases By 235.3%

Key Points

• Short interest in Westwater Resources surged by 235.3% in July, increasing to a total of 4,560,000 shares.
• Institutional investors have shown significant activity, with Jane Street Group increasing their position by 165.3% and Renaissance Technologies boosting theirs by 536.3%.
• Westwater Resources' current stock price is $0.77, with a market capitalization of approximately $58.99 million.

Westwater Resources, Inc. (NASDAQ:WWR - Get Free Report) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 4,560,000 shares, agrowthof235.3% from the July 15th total of 1,360,000 shares. Currently,7.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,460,000 shares, the days-to-cover ratio is currently 3.1 days. Based on an average daily trading volume, of 1,460,000 shares, the days-to-cover ratio is currently 3.1 days. Currently,7.5% of the shares of the company are sold short.

Institutional Trading of Westwater Resources

Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC boosted its stake in shares of Westwater Resources by 165.3% during the fourth quarter. Jane Street Group LLC now owns 56,249 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 35,046 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Westwater Resources by 536.3% during the fourth quarter. Renaissance Technologies LLC now owns 99,201 shares of the basic materials company's stock valued at $70,000 after purchasing an additional 83,611 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Westwater Resources during the first quarter valued at approximately $55,000. Northern Trust Corp boosted its stake in shares of Westwater Resources by 34.7% during the fourth quarter. Northern Trust Corp now owns 127,960 shares of the basic materials company's stock valued at $91,000 after purchasing an additional 32,952 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Westwater Resources by 53.0% during the first quarter. Pinnacle Associates Ltd. now owns 133,900 shares of the basic materials company's stock valued at $74,000 after purchasing an additional 46,400 shares during the period. Hedge funds and other institutional investors own 7.72% of the company's stock.

Analysts Set New Price Targets

WWR has been the topic of several recent research reports. HC Wainwright reaffirmed a "buy" rating and set a $2.00 price objective on shares of Westwater Resources in a report on Friday, August 15th. Wall Street Zen initiated coverage on shares of Westwater Resources in a report on Wednesday, May 21st. They set a "sell" rating on the stock. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $2.00.

Westwater Resources Stock Down 0.5%

Shares of WWR stock traded down $0.0035 during trading on Wednesday, hitting $0.7280. The company had a trading volume of 1,208,703 shares, compared to its average volume of 1,084,446. The stock's 50-day moving average is $0.69 and its two-hundred day moving average is $0.63. The stock has a market capitalization of $62.77 million, a price-to-earnings ratio of -5.60 and a beta of 1.18. Westwater Resources has a 52 week low of $0.45 and a 52 week high of $1.3191.

About Westwater Resources

Westwater Resources, Inc operates as an energy technology company, focuses on developing battery-grade natural graphite materials. The company holds interests in Kellyton Graphite Plant located in Kellyton, Alabama; and Bama Mine Project situated in south Alabama. It holds interests in Coosa graphite project located in Coosa County, Alabama.