Uranium Energy (NYSEAMERICAN:UEC) Trading Down 5.9% - Time to Sell?

Key Points

• Uranium Energy Corp. (NYSEAMERICAN: UEC) shares dropped 5.9% to last trade at $11.52, with a significant decline in trading volume.
• Multiple analysts rated Uranium Energy as a "buy," with target price estimates ranging from $7.75 to $13.00, indicating potential growth despite the recent drop in share price.
• Insider activity includes Director David Kong selling 50,800 shares, reflecting a 21.80% decrease in his position in the company.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s stock price fell 5.9% during trading on Thursday . The stock traded as low as $11.41 and last traded at $11.52. 7,270,543 shares were traded during trading, a decline of 35% from the average session volume of 11,252,639 shares. The stock had previously closed at $12.24.

Analyst Upgrades and Downgrades

UEC has been the subject of several recent research reports. TD Securities upped their price target on Uranium Energy from $8.00 to $13.00 and gave the company a "buy" rating in a report on Friday, August 15th. BMO Capital Markets initiated coverage on shares of Uranium Energy in a research note on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 price target on the stock. HC Wainwright lifted their price target on shares of Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group upgraded Uranium Energy to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, Roth Capital raised their target price on Uranium Energy from $10.50 to $11.50 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $10.97.

Uranium Energy Stock Up 0.7%

The company has a 50 day moving average price of $10.09 and a 200-day moving average price of $7.15. The company has a market cap of $5.49 billion, a price-to-earnings ratio of -72.64 and a beta of 1.42.

Insider Activity at Uranium Energy

In related news, Director David Kong sold 50,800 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total value of $488,696.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Uranium Energy

Hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in Uranium Energy by 9.5% in the second quarter. State Street Corp now owns 23,046,686 shares of the basic materials company's stock worth $156,717,000 after purchasing an additional 2,000,516 shares during the period. MMCAP International Inc. SPC boosted its position in shares of Uranium Energy by 8.6% during the 1st quarter. MMCAP International Inc. SPC now owns 19,716,341 shares of the basic materials company's stock worth $94,244,000 after purchasing an additional 1,559,173 shares in the last quarter. Norges Bank acquired a new stake in shares of Uranium Energy in the 2nd quarter valued at about $105,058,000. Geode Capital Management LLC raised its stake in Uranium Energy by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 9,902,310 shares of the basic materials company's stock worth $67,344,000 after buying an additional 289,662 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Uranium Energy by 10.9% in the second quarter. Ameriprise Financial Inc. now owns 7,379,554 shares of the basic materials company's stock worth $50,181,000 after acquiring an additional 722,458 shares in the last quarter. Institutional investors 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.