Uranium Energy (NYSEAMERICAN:UEC) Reaches New 1-Year High - Should You Buy?

Key Points

• Uranium Energy Corp. (NYSEAMERICAN: UEC) shares hit a new 52-week high at $17.08, reflecting a significant trading volume of nearly 21 million shares on that day.
• Wall Street analysts have generally expressed optimism about UEC, with several raising their price targets and maintaining "buy" ratings, indicating a bullish outlook for the stock.
• Institutional investors have been actively buying UEC shares, with companies like GAMMA Investing increasing their holdings by significant margins, underscoring growing interest in the stock.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $17.08 and last traded at $16.74, with a volume of 20092688 shares traded. The stock had previously closed at $15.66.

Wall Street Analysts Forecast Growth

UEC has been the topic of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Uranium Energy from $13.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, September 26th. HC Wainwright increased their target price on Uranium Energy from $12.75 to $19.75 and gave the company a "buy" rating in a research note on Thursday, September 25th. Stifel Nicolaus began coverage on Uranium Energy in a research note on Monday, October 6th. They issued a "buy" rating and a $10.50 target price on the stock. BMO Capital Markets reissued a "market perform" rating and issued a $14.00 target price (up previously from $7.75) on shares of Uranium Energy in a research note on Thursday, September 25th. Finally, Stifel Canada raised Uranium Energy to a "strong-buy" rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $13.80.

Uranium Energy Stock Up 6.9%

The firm's 50-day simple moving average is $12.08 and its 200-day simple moving average is $8.23. The firm has a market capitalization of $8.09 billion, a PE ratio of -98.46 and a beta of 1.40.

Insider Transactions at Uranium Energy

In other Uranium Energy news, Director David Kong sold 50,800 shares of the company's stock in a transaction dated 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 $1,753,119.94. This represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Uranium Energy

Several institutional investors and hedge funds have recently bought and sold shares of UEC. GAMMA Investing LLC lifted its holdings in Uranium Energy by 497.8% in the first quarter. GAMMA Investing LLC now owns 25,932 shares of the basic materials company's stock worth $124,000 after buying an additional 21,594 shares during the period. Farther Finance Advisors LLC lifted its holdings in Uranium Energy by 43.5% in the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock worth $36,000 after buying an additional 2,364 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Uranium Energy by 101.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,196 shares of the basic materials company's stock worth $111,000 after buying an additional 11,688 shares during the period. Grimes & Company Inc. lifted its holdings in Uranium Energy by 31.9% in the first quarter. Grimes & Company Inc. now owns 83,745 shares of the basic materials company's stock worth $400,000 after buying an additional 20,245 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Uranium Energy by 7.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 172,735 shares of the basic materials company's stock worth $826,000 after buying an additional 11,372 shares during the period. 62.28% of the stock is currently 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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