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

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $6.25, but opened at $6.70. Uranium Energy shares last traded at $7.05, with a volume of 8,249,635 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Stifel Canada raised shares of Uranium Energy to a "strong-buy" rating in a report on Tuesday, March 11th. BMO Capital Markets initiated coverage on shares of Uranium Energy in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 price target on the stock. Stifel Nicolaus set a $10.50 price target on shares of Uranium Energy in a research note on Wednesday, March 12th. Finally, HC Wainwright restated a "buy" rating and set a $12.25 price objective on shares of Uranium Energy in a research report on Thursday, March 13th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $10.13.

Uranium Energy Stock Up 0.3%

The business's fifty day moving average is $5.63 and its two-hundred day moving average is $6.51. The stock has a market capitalization of $2.95 billion, a PE ratio of -39.12 and a beta of 1.39.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Uranium Energy by 1.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,230,344 shares of the basic materials company's stock worth $195,551,000 after buying an additional 423,233 shares during the period. Vanguard Group Inc. raised its stake in shares of Uranium Energy by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 25,862,079 shares of the basic materials company's stock valued at $173,017,000 after acquiring an additional 631,929 shares during the period. MMCAP International Inc. SPC lifted its holdings in shares of Uranium Energy by 8.6% in the 1st quarter. MMCAP International Inc. SPC now owns 19,716,341 shares of the basic materials company's stock worth $94,244,000 after acquiring an additional 1,559,173 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Uranium Energy by 45.9% during the 4th quarter. JPMorgan Chase & Co. now owns 15,842,713 shares of the basic materials company's stock worth $105,988,000 after purchasing an additional 4,982,949 shares during the period. Finally, Norges Bank purchased a new position in shares of Uranium Energy during the 4th quarter worth about $100,773,000. Institutional investors 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.