Uranium Energy Corp. (NYSEAMERICAN:UEC) Sees Significant Increase in Short Interest

Key Points

• Uranium Energy Corp. saw a significant 1,209.9% increase in short interest in July, rising from 4,130,000 shares to 54,100,000 shares.
• Institutional investors currently hold 62.28% of Uranium Energy's stock, with notable increases in stakes from companies like American Century Companies and Victory Capital Management.
• Analysts have a positive outlook, with a consensus rating of "Buy" and an average target price of $10.13, following a report from BMO Capital Markets that issued an "outperform" rating.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 54,100,000 shares, anincreaseof1,209.9% from the June 30th total of 4,130,000 shares. Based on an average daily trading volume, of 13,620,000 shares, the short-interest ratio is currently 4.0 days. Based on an average daily trading volume, of 13,620,000 shares, the short-interest ratio is currently 4.0 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UEC. Ameriprise Financial Inc. raised its holdings in Uranium Energy by 239.4% in the 4th quarter. Ameriprise Financial Inc. now owns 6,731,148 shares of the basic materials company's stock valued at $45,036,000 after acquiring an additional 4,748,138 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Uranium Energy by 52.2% during the fourth quarter. Driehaus Capital Management LLC now owns 9,499,842 shares of the basic materials company's stock valued at $63,554,000 after acquiring an additional 3,259,704 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Uranium Energy by 120.0% in the first quarter. Victory Capital Management Inc. now owns 5,930,920 shares of the basic materials company's stock worth $28,350,000 after purchasing an additional 3,235,394 shares during the period. Encompass Capital Advisors LLC grew its position in Uranium Energy by 255.1% in the 1st quarter. Encompass Capital Advisors LLC now owns 4,223,438 shares of the basic materials company's stock valued at $20,188,000 after purchasing an additional 3,033,974 shares during the period. Finally, MMCAP International Inc. SPC raised its stake in shares of Uranium Energy by 8.6% in the first quarter. MMCAP International Inc. SPC now owns 19,716,341 shares of the basic materials company's stock worth $94,244,000 after purchasing an additional 1,559,173 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

Uranium Energy Price Performance

NYSEAMERICAN:UEC traded up $0.26 during trading hours on Wednesday, reaching $9.76. The company's stock had a trading volume of 13,235,110 shares, compared to its average volume of 10,901,716. The company has a market cap of $4.34 billion, a price-to-earnings ratio of -57.41 and a beta of 1.44. Uranium Energy has a one year low of $3.85 and a one year high of $9.83. The business's 50-day moving average is $7.09 and its 200-day moving average is $6.30.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UEC. BMO Capital Markets began coverage on shares of Uranium Energy in a report on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 target price on the stock. HC Wainwright lifted their target price on Uranium Energy from $12.25 to $12.75 and gave the company a "buy" rating in a research note on Wednesday. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $10.21.

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.