Stock Traders Purchase High Volume of NexGen Energy Call Options (NYSE:NXE)

Key Points

• NexGen Energy saw a significant surge in options trading, with 37,595 call options purchased, marking a 216% increase from the usual volume.
• Various hedge funds and institutional investors, including Cetera Investment Advisers and Tidal Investments LLC, have recently increased their stakes in NexGen Energy, with institutional ownership now at 42.43%.
• Analysts maintain a generally positive outlook on NexGen Energy, with a consensus rating of "Buy", following several upgrades from firms like TD Securities and Desjardins.

NexGen Energy (NYSE:NXE - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 37,595 call options on the company. This is an increase of approximately 216% compared to the typical daily volume of 11,913 call options.

Hedge Funds Weigh In On NexGen Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers raised its stake in NexGen Energy by 1.4% in the second quarter. Cetera Investment Advisers now owns 128,690 shares of the company's stock valued at $893,000 after purchasing an additional 1,772 shares in the last quarter. Tidal Investments LLC raised its stake in NexGen Energy by 6.9% in the second quarter. Tidal Investments LLC now owns 28,015 shares of the company's stock valued at $194,000 after purchasing an additional 1,817 shares in the last quarter. Osaic Holdings Inc. raised its stake in NexGen Energy by 5.7% in the second quarter. Osaic Holdings Inc. now owns 35,057 shares of the company's stock valued at $243,000 after purchasing an additional 1,904 shares in the last quarter. Hsbc Holdings PLC raised its stake in NexGen Energy by 10.4% in the first quarter. Hsbc Holdings PLC now owns 20,675 shares of the company's stock valued at $93,000 after purchasing an additional 1,946 shares in the last quarter. Finally, Sava Infond d.o.o. raised its stake in NexGen Energy by 14.3% in the second quarter. Sava Infond d.o.o. now owns 16,000 shares of the company's stock valued at $111,000 after purchasing an additional 2,000 shares in the last quarter. 42.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NXE has been the topic of a number of research reports. Desjardins initiated coverage on shares of NexGen Energy in a research report on Tuesday, June 10th. They set a "buy" rating on the stock. TD Securities restated a "buy" rating on shares of NexGen Energy in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, NexGen Energy has a consensus rating of "Buy".

NexGen Energy Price Performance

NXE stock traded down $0.17 during midday trading on Wednesday, reaching $8.91. 3,652,483 shares of the company were exchanged, compared to its average volume of 9,102,872. The business has a 50-day moving average price of $7.36 and a two-hundred day moving average price of $6.22. NexGen Energy has a one year low of $3.91 and a one year high of $9.38. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of -35.66 and a beta of 1.47.

NexGen Energy (NYSE:NXE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.08). As a group, analysts anticipate that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

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 a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.

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