Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Down - Here's What Happened

Key Points

• Uranium Energy Corp.'s stock price opened at $13.28 after closing at $13.89, reflecting a gap down as it traded at $13.51 with notable volume.
• Analysts have positive outlooks for Uranium Energy, with multiple firms raising their price targets; Canaccord Genuity has set a target of $17.50 and Roth Capital increased theirs to $16.00.
• Insider trading activity was noted as Director David Kong sold 50,800 shares for approximately $488,696, decreasing his position by 21.80%.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $13.89, but opened at $13.28. Uranium Energy shares last traded at $13.51, with a volume of 1,417,446 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on UEC shares. Canaccord Genuity Group set a $17.50 price target on shares of Uranium Energy and gave the stock a "buy" rating in a research note on Wednesday, September 24th. TD Securities upped their price target 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. Roth Capital upped their price target on shares of Uranium Energy from $11.50 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. HC Wainwright upped their price target on shares of Uranium Energy from $12.75 to $19.75 and gave the company a "buy" rating in a research report on Thursday, September 25th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $14.00 price target (up previously from $7.75) on shares of Uranium Energy in a research report on Thursday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $13.80.

Uranium Energy Stock Performance

The company's 50 day moving average price is $10.81 and its 200 day moving average price is $7.53. The company has a market cap of $6.29 billion, a price-to-earnings ratio of -79.55 and a beta of 1.42.

Insider Activity 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 transaction of $488,696.00. Following the transaction, the director owned 182,237 shares in the company, valued at $1,753,119.94. This represents a 21.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Uranium Energy

Large investors have recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in shares of Uranium Energy by 732.8% during the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company's stock worth $27,000 after buying an additional 3,503 shares during the period. Operose Advisors LLC bought a new stake in shares of Uranium Energy during the 2nd quarter worth $34,000. Versant Capital Management Inc bought a new stake in shares of Uranium Energy during the 1st quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Uranium Energy during the 1st quarter worth $36,000. Finally, Farther Finance Advisors LLC boosted its holdings in Uranium Energy by 43.5% in the 1st quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 2,364 shares during the period. 62.28% of the stock is 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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