Uranium Energy (NYSEAMERICAN:UEC) Sees Unusually-High Trading Volume - What's Next?

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 10,163,545 shares were traded during mid-day trading, an increase of 23% from the previous session's volume of 8,277,617 shares.The stock last traded at $6.63 and had previously closed at $6.45.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on UEC. Stifel Canada upgraded Uranium Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Stifel Nicolaus set a $10.50 target price on shares of Uranium Energy in a research report on Wednesday, March 12th. National Bank Financial initiated coverage on shares of Uranium Energy in a report on Wednesday, February 12th. They set an "outperform" rating and a $10.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $12.25 price target on shares of Uranium Energy in a research note on Thursday, March 13th. Finally, National Bankshares set a $10.00 price objective on Uranium Energy and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Uranium Energy presently has a consensus rating of "Buy" and an average price target of $10.60.

Uranium Energy Price Performance

The stock has a market capitalization of $2.54 billion, a P/E ratio of -50.08 and a beta of 1.88. The stock's fifty day moving average is $5.16 and its 200-day moving average is $6.43.

Hedge Funds Weigh In On Uranium Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Uranium Energy during the 4th quarter valued at approximately $100,773,000. JPMorgan Chase & Co. boosted its position in shares of Uranium Energy by 45.9% in the fourth quarter. JPMorgan Chase & Co. now owns 15,842,713 shares of the basic materials company's stock valued at $105,988,000 after acquiring an additional 4,982,949 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Uranium Energy by 239.4% in the fourth quarter. Ameriprise Financial Inc. now owns 6,731,148 shares of the basic materials company's stock worth $45,036,000 after acquiring an additional 4,748,138 shares during the last quarter. Driehaus Capital Management LLC increased 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 worth $63,554,000 after acquiring an additional 3,259,704 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Uranium Energy by 120.0% during the 1st quarter. Victory Capital Management Inc. now owns 5,930,920 shares of the basic materials company's stock valued at $28,350,000 after purchasing an additional 3,235,394 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

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.