Uranium Energy (NYSEAMERICAN:UEC) Shares Down 9.3% - What's Next?

Key Points

• Uranium Energy Corp. (NYSEAMERICAN:UEC) shares fell by 9.3% during mid-day trading, declining from a previous close of $16.00 to $14.51.
• Several analysts upgraded UEC with buy ratings and raised price targets, notably from TD Securities ($13.00), Goldman Sachs ($17.00), and HC Wainwright ($19.75).
• Insider transactions revealed that Director David Kong sold 50,800 shares at an average price of $9.62, reducing his ownership by 21.8% in the company.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) fell 9.3% during mid-day trading on Friday . The company traded as low as $14.73 and last traded at $14.51. 8,540,764 shares traded hands during trading, a decline of 31% from the average session volume of 12,363,180 shares. The stock had previously closed at $16.00.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on UEC shares. TD Securities raised their target price on Uranium Energy from $8.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, August 15th. The Goldman Sachs Group raised their target price on Uranium Energy from $13.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, September 26th. HC Wainwright lifted their price objective on Uranium Energy from $12.75 to $19.75 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Stifel Nicolaus began coverage on Uranium Energy in a research report on Monday, October 6th. They issued a "buy" rating and a $10.50 price objective for the company. Finally, Zacks Research upgraded Uranium Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Uranium Energy has a consensus rating of "Buy" and an average price target of $13.80.

Uranium Energy Trading Down 8.5%

The company has a market cap of $7.07 billion, a P/E ratio of -85.91 and a beta of 1.40. The business has a 50 day moving average price of $12.20 and a 200-day moving average price of $8.30.

Insider Buying and Selling

In other Uranium Energy news, Director David Kong sold 50,800 shares of the company's stock in a transaction 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Uranium Energy

A number of hedge funds have recently made changes to their positions in the stock. Blair William & Co. IL boosted its position in Uranium Energy by 1.1% in the second quarter. Blair William & Co. IL now owns 160,200 shares of the basic materials company's stock worth $1,089,000 after purchasing an additional 1,700 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Uranium Energy by 4.2% in the second quarter. Ameritas Investment Partners Inc. now owns 43,475 shares of the basic materials company's stock worth $296,000 after purchasing an additional 1,742 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Uranium Energy by 13.7% in the second quarter. SBI Securities Co. Ltd. now owns 15,629 shares of the basic materials company's stock worth $106,000 after purchasing an additional 1,878 shares during the last quarter. Arizona State Retirement System boosted its position in Uranium Energy by 1.6% in the first quarter. Arizona State Retirement System now owns 121,359 shares of the basic materials company's stock worth $580,000 after purchasing an additional 1,962 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in 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 purchasing an additional 2,364 shares during the last quarter. 62.28% of the stock is currently owned by 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.

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