Uranium Energy (NYSEAMERICAN:UEC) Reaches New 52-Week High - Here's What Happened

Key Points

• Uranium Energy Corp. (NYSEAMERICAN: UEC) hit a new 52-week high of $13.31, closing at $13.23 with significant trading volume of over 10 million shares.
• Recent analyst reports have generally rated the stock positively, with several upgrades and a consensus target price of $10.97, indicating a strong buy sentiment.
• Key insider David Kong sold 50,800 shares at $9.62 each, representing a significant reduction in his stake by 21.80%.

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $13.31 and last traded at $13.23, with a volume of 10117307 shares changing hands. The stock had previously closed at $12.35.

Analyst Ratings Changes

Several research firms recently commented on UEC. Roth Capital raised their price target on shares of Uranium Energy from $10.50 to $11.50 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. TD Securities raised their price target 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. HC Wainwright raised their price target on shares of Uranium Energy from $12.25 to $12.75 and gave the company a "buy" rating in a research report on Wednesday, August 6th. 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 price objective on the stock. Finally, The Goldman Sachs Group raised shares of Uranium Energy to a "strong-buy" rating in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. Based on data from MarketBeat, Uranium Energy has an average rating of "Buy" and an average target price of $10.97.

Uranium Energy Price Performance

The company's 50 day moving average price is $10.22 and its two-hundred day moving average price is $7.20. The stock has a market capitalization of $6.09 billion, a PE ratio of -80.74 and a beta of 1.42.

Insider Buying and Selling at Uranium Energy

In other news, Director David Kong sold 50,800 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total value of $488,696.00. Following the transaction, the director directly owned 182,237 shares of the company's stock, valued at approximately $1,753,119.94. This trade 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 link. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Uranium Energy

A number of institutional investors have recently bought and sold shares of UEC. Versant Capital Management Inc purchased a new position in Uranium Energy during the first quarter worth about $27,000. IFP Advisors Inc raised its stake in Uranium Energy by 732.8% during the second quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company's stock worth $27,000 after purchasing an additional 3,503 shares during the period. Operose Advisors LLC purchased a new position in Uranium Energy during the second quarter worth about $34,000. Farther Finance Advisors LLC raised its stake in Uranium Energy by 43.5% during the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock worth $36,000 after purchasing an additional 2,364 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Uranium Energy during the first quarter worth about $36,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Uranium Energy Company Profile

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.