Uranium Energy Corp. (NYSEAMERICAN:UEC) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Uranium Energy Corp. has received an average rating of "Buy" from seven ratings firms, with five analysts recommending a buy and two a strong buy, indicating positive market sentiment.
• The company's average price target is set at approximately $10.21, reflecting bullish expectations for the stock's performance in the next twelve months.
• Recent insider trading activity includes Director David Kong selling 50,800 shares at an average price of $9.62, reducing his ownership by 21.80% to approximately 182,237 shares.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) has earned an average rating of "Buy" from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.2083.

Several equities research analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Uranium Energy in a research report on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 price objective for the company. HC Wainwright upped their price target on shares of Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a research report on Wednesday.

Uranium Energy Trading Up 3.4%

Shares of NYSEAMERICAN:UEC opened at $10.18 on Friday. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of -59.88 and a beta of 1.44. Uranium Energy has a 12 month low of $3.85 and a 12 month high of $10.36. The firm's 50-day moving average is $7.32 and its 200 day moving average is $6.34.

Insider Transactions at Uranium Energy

In related news, Director David Kong sold 50,800 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total transaction of $488,696.00. Following the sale, the director directly owned 182,237 shares of the company's stock, valued at approximately $1,753,119.94. This represents a 21.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Uranium Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. lifted its stake in shares of Uranium Energy by 9.7% in the fourth quarter. Sei Investments Co. now owns 19,381 shares of the basic materials company's stock worth $130,000 after buying an additional 1,710 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Uranium Energy by 78.3% in the fourth quarter. LPL Financial LLC now owns 182,338 shares of the basic materials company's stock worth $1,220,000 after buying an additional 80,063 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Uranium Energy in the fourth quarter worth about $448,000. Wells Fargo & Company MN lifted its stake in shares of Uranium Energy by 15.0% in the fourth quarter. Wells Fargo & Company MN now owns 753,643 shares of the basic materials company's stock worth $5,042,000 after buying an additional 98,130 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Uranium Energy in the fourth quarter worth about $223,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

About Uranium Energy

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.

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