Uranium Energy (NYSEAMERICAN:UEC) Stock Price 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.

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) dropped 5.9% during mid-day trading on Thursday . The company traded as low as $11.41 and last traded at $11.52. Approximately 7,270,543 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 11,252,639 shares. The stock had previously closed at $12.24.

Wall Street Analysts Forecast Growth

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

Uranium Energy Stock Performance

The company has a market capitalization of $5.49 billion, a PE ratio of -72.64 and a beta of 1.42. The company's fifty day moving average is $10.09 and its 200-day moving average is $7.14.

Insider Buying and Selling at Uranium Energy

In other news, Director David Kong sold 50,800 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total value of $488,696.00. Following the completion of the sale, the director directly owned 182,237 shares of the company's stock, valued at $1,753,119.94. This represents a 21.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Uranium Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its holdings in Uranium Energy by 732.8% in the 2nd 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 in the last quarter. Operose Advisors LLC purchased a new stake in Uranium Energy during the 2nd quarter valued at approximately $34,000. Versant Capital Management Inc bought a new stake in shares of Uranium Energy during the first quarter valued at approximately $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Uranium Energy in the first quarter worth $36,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of 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 in the last quarter. Institutional investors own 62.28% of the company's stock.

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.