Uranium Energy (NYSEAMERICAN:UEC) Trading 3.1% Higher - What's Next?

Key Points

• Uranium Energy Corp's share price increased by 3.1%, reaching a trading value of $10.54, but the trading volume saw a significant drop of 88% compared to the daily average.
• Analysts have a consensus rating of "Buy," with five giving buy ratings and three assigning strong buy ratings, while the average target price for the stock is set at $10.61.
• Insider transactions included Director David Kong selling 50,800 shares, representing a 21.80% decrease in his stock ownership, valued at about $488,696.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) traded up 3.1% during mid-day trading on Thursday . The stock traded as high as $10.55 and last traded at $10.54. 1,261,053 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 10,940,863 shares. The stock had previously closed at $10.22.

Analyst Upgrades and Downgrades

Several research firms recently commented on UEC. The Goldman Sachs Group raised shares of Uranium Energy to a "strong-buy" rating in a report on Tuesday, August 12th. BMO Capital Markets assumed coverage on shares of Uranium Energy in a report on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 target price on the stock. TD Securities increased their target price on shares of Uranium Energy from $8.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday. Finally, HC Wainwright upped their price target on shares of Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $10.91.

Uranium Energy Stock Performance

The stock has a fifty day simple moving average of $7.88 and a 200 day simple moving average of $6.46. The firm has a market cap of $4.29 billion, a P/E ratio of -56.82 and a beta of 1.44.

Insiders Place Their Bets

In other news, Director David Kong sold 50,800 shares of Uranium Energy 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 trade represents a 21.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Uranium Energy

Several institutional investors have recently bought and sold shares of UEC. Wells Fargo & Company MN lifted its position in shares of Uranium Energy by 15.0% in the fourth quarter. Wells Fargo & Company MN now owns 753,643 shares of the basic materials company's stock worth $5,042,000 after buying an additional 98,130 shares in the last quarter. Invesco Ltd. grew its stake in shares of Uranium Energy by 134.1% in the 4th quarter. Invesco Ltd. now owns 942,851 shares of the basic materials company's stock worth $6,308,000 after buying an additional 540,049 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Uranium Energy in the 4th quarter worth about $1,007,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Uranium Energy during the 4th quarter valued at about $268,000. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Uranium Energy by 6.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 41,733 shares of the basic materials company's stock valued at $279,000 after acquiring an additional 2,570 shares during the last quarter. 62.28% of the stock is owned by hedge funds and other 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.