Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Up - Still a Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $5.16, but opened at $6.00. Uranium Energy shares last traded at $6.31, with a volume of 17,016,320 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on UEC shares. Stifel Nicolaus set a $10.50 price target on Uranium Energy in a research report on Wednesday, March 12th. Stifel Canada raised shares of Uranium Energy to a "strong-buy" rating in a research report on Tuesday, March 11th. National Bankshares set a $10.00 price target on Uranium Energy and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. National Bank Financial initiated coverage on Uranium Energy in a research report on Wednesday, February 12th. They set an "outperform" rating and a $10.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $12.25 price target on shares of Uranium Energy in a research report on Thursday, March 13th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Uranium Energy currently has a consensus rating of "Buy" and a consensus price target of $10.60.

Uranium Energy Price Performance

The company's 50-day simple moving average is $5.07 and its 200-day simple moving average is $6.42. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -53.35 and a beta of 1.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Stonehage Fleming Financial Services Holdings Ltd raised its position in shares of Uranium Energy by 21.1% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 7,870 shares of the basic materials company's stock valued at $53,000 after buying an additional 1,370 shares in the last quarter. US Bancorp DE increased its stake in shares of Uranium Energy by 7.7% in the 4th quarter. US Bancorp DE now owns 22,300 shares of the basic materials company's stock valued at $149,000 after purchasing an additional 1,600 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Uranium Energy by 1.4% in the 4th quarter. Arizona State Retirement System now owns 119,397 shares of the basic materials company's stock valued at $799,000 after purchasing an additional 1,692 shares during the last quarter. Sei Investments Co. increased its stake in shares of Uranium Energy by 9.7% in the 4th quarter. Sei Investments Co. now owns 19,381 shares of the basic materials company's stock valued at $130,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Ballentine Partners LLC increased its stake in shares of Uranium Energy by 11.7% in the 4th quarter. Ballentine Partners LLC now owns 17,179 shares of the basic materials company's stock valued at $115,000 after purchasing an additional 1,795 shares during the last quarter. Institutional investors and hedge funds 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.

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