Uranium Energy (NYSEAMERICAN:UEC) Shares Down 3.3% - Should You Sell?

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) fell 3.3% during trading on Wednesday . The stock traded as low as $6.22 and last traded at $6.15. 1,791,091 shares changed hands during trading, a decline of 79% from the average session volume of 8,536,037 shares. The stock had previously closed at $6.36.

Wall Street Analysts Forecast Growth

UEC has been the topic of a number of recent analyst reports. 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. National Bankshares set a $10.00 price target on shares of Uranium Energy and gave the company an "outperform" rating in a report on Wednesday, February 12th. Stifel Canada upgraded shares of Uranium Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Stifel Nicolaus set a $10.50 price target on shares of Uranium Energy in a report on Wednesday, March 12th. Finally, HC Wainwright restated a "buy" rating and set a $12.25 price target on shares of Uranium Energy in a report on Thursday, March 13th. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $10.13.

Uranium Energy Stock Performance

The company has a 50 day moving average of $5.22 and a 200 day moving average of $6.45. The firm has a market cap of $2.59 billion, a P/E ratio of -51.00 and a beta of 1.88.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of UEC. Norges Bank acquired a new position in shares of Uranium Energy in the fourth quarter valued at $100,773,000. JPMorgan Chase & Co. grew its position in 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 position in 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 valued at $45,036,000 after acquiring an additional 4,748,138 shares during the period. Driehaus Capital Management LLC grew its position in Uranium Energy by 52.2% in 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 period. Finally, Victory Capital Management Inc. grew its position 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 valued at $28,350,000 after acquiring an additional 3,235,394 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.

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.