Uranium Energy (NYSEAMERICAN:UEC) Hits New 12-Month High - Here's What Happened

Key Points

• Uranium Energy Corp. hit a new 52-week high of $15.17, with significant trading volume of over 6.75 million shares, reflecting strong market interest.
• Wall Street analysts have upgraded their ratings on the stock, with several firms increasing target prices, including HC Wainwright, which raised its target to $19.75.
• Institutional ownership of Uranium Energy is significant, with 62.28% of the stock held by institutional investors, indicating strong support from large financial entities.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $15.17 and last traded at $15.05, with a volume of 6756415 shares changing hands. The stock had previously closed at $13.55.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. TD Securities upped their target price on shares of Uranium Energy from $8.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Roth Capital upped their target price on shares of Uranium Energy from $11.50 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Stifel Canada raised shares of Uranium Energy to a "strong-buy" rating in a research note on Friday, October 3rd. Zacks Research raised shares of Uranium Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, September 22nd. Finally, HC Wainwright raised their price objective on shares of Uranium Energy from $12.75 to $19.75 and gave the stock a "buy" rating in a research note on Thursday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $13.80.

Uranium Energy Stock Up 10.0%

The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of -89.15 and a beta of 1.40. The company's 50 day simple moving average is $11.57 and its two-hundred day simple moving average is $7.94.

Insider Activity at Uranium Energy

In other news, Director David Kong sold 50,800 shares of Uranium Energy 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 completion of the sale, the director directly owned 182,237 shares in the company, valued at approximately $1,753,119.94. The trade was a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Uranium Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Uranium Energy by 9.5% during the second quarter. State Street Corp now owns 23,046,686 shares of the basic materials company's stock worth $156,717,000 after buying an additional 2,000,516 shares during the period. MMCAP International Inc. SPC lifted its position in Uranium Energy by 8.6% during the first quarter. MMCAP International Inc. SPC now owns 19,716,341 shares of the basic materials company's stock valued at $94,244,000 after purchasing an additional 1,559,173 shares during the period. Norges Bank acquired a new position in Uranium Energy during the second quarter valued at $105,058,000. Geode Capital Management LLC lifted its position in Uranium Energy by 3.0% during the second quarter. Geode Capital Management LLC now owns 9,902,310 shares of the basic materials company's stock valued at $67,344,000 after purchasing an additional 289,662 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Uranium Energy by 10.9% during the second quarter. Ameriprise Financial Inc. now owns 7,379,554 shares of the basic materials company's stock valued at $50,181,000 after purchasing an additional 722,458 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.

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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