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

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.69, but opened at $6.20. Uranium Energy shares last traded at $6.24, with a volume of 5,508,923 shares.

Analysts Set New Price Targets

Several research firms have recently issued reports on UEC. Stifel Canada upgraded shares of Uranium Energy to a "strong-buy" rating in a report on Tuesday, March 11th. National Bank Financial started coverage on shares of Uranium Energy in a research note on Wednesday, February 12th. They issued an "outperform" rating and a $10.00 price objective for the company. National Bankshares set a $10.00 target price on Uranium Energy and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. BMO Capital Markets began coverage on Uranium Energy in a report on Tuesday. They issued an "outperform" rating and a $7.75 target price for the company. Finally, HC Wainwright reiterated a "buy" rating and set a $12.25 price target on shares of Uranium Energy in a report on Thursday, March 13th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $10.13.

Uranium Energy Stock Down 0.2%

The firm has a market capitalization of $2.58 billion, a PE ratio of -50.88 and a beta of 1.88. The stock has a 50-day simple moving average of $5.25 and a 200-day simple moving average of $6.45.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp boosted its position in shares of Uranium Energy by 33.2% in the fourth quarter. Van ECK Associates Corp now owns 6,602,890 shares of the basic materials company's stock valued at $44,174,000 after acquiring an additional 1,645,919 shares during the period. Barclays PLC grew its position in shares of Uranium Energy by 394.5% during the 3rd quarter. Barclays PLC now owns 697,045 shares of the basic materials company's stock valued at $4,329,000 after purchasing an additional 556,081 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Uranium Energy during the 4th quarter valued at $323,000. American Century Companies Inc. increased its holdings in shares of Uranium Energy by 194.6% in the fourth quarter. American Century Companies Inc. now owns 1,143,327 shares of the basic materials company's stock worth $7,649,000 after purchasing an additional 755,285 shares during the period. Finally, D.A. Davidson & CO. purchased a new stake in shares of Uranium Energy in the fourth quarter worth $188,000. 62.28% of the stock is owned by institutional investors.

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.