Uranium Energy (NYSEAMERICAN:UEC) Shares Up 6.9% - What's Next?

Key Points

• Uranium Energy Corp. shares surged by 6.9% to $14.80 during mid-day trading, marking a significant increase from a previous close of $13.85.
• Several analysts have given positive ratings for UEC, with Roth Capital raising its price target to $11.50 and Goldman Sachs upgrading their rating to "strong-buy."
• Insider activity showed that Director David Kong sold 50,800 shares at an average price of $9.62, reducing ownership by 21.80%.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s stock price shot up 6.9% during mid-day trading on Wednesday . The stock traded as high as $14.75 and last traded at $14.80. 5,318,927 shares traded hands during trading, a decline of 54% from the average session volume of 11,617,673 shares. The stock had previously closed at $13.85.

Wall Street Analysts Forecast Growth

UEC has been the topic of several research analyst reports. Roth Capital upped their price target on shares of Uranium Energy from $10.50 to $11.50 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. 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. The Goldman Sachs Group raised shares of Uranium Energy to a "strong-buy" rating in a report on Tuesday, August 12th. Zacks Research raised shares of Uranium Energy from a "strong sell" rating to a "hold" rating in a report on Monday. Finally, TD Securities upped their price target on shares of Uranium Energy from $8.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $10.97.

Uranium Energy Price Performance

The stock has a 50 day moving average price of $10.36 and a 200-day moving average price of $7.26. The stock has a market capitalization of $6.43 billion, a P/E ratio of -85.12 and a beta of 1.42.

Insider Buying and Selling at Uranium Energy

In other news, Director David Kong sold 50,800 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total transaction of $488,696.00. Following the completion of the sale, the director directly owned 182,237 shares in the company, valued at approximately $1,753,119.94. This represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Uranium Energy

Several large investors have recently made changes to their positions in the business. Versant Capital Management Inc purchased a new position in Uranium Energy in the 1st quarter worth approximately $27,000. IFP Advisors Inc raised its stake in Uranium Energy by 732.8% during the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company's stock valued at $27,000 after buying an additional 3,503 shares during the last quarter. Operose Advisors LLC bought a new stake in shares of Uranium Energy during the 2nd quarter valued at $34,000. Farther Finance Advisors LLC grew its position in shares of Uranium Energy by 43.5% during the 1st quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 2,364 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Uranium Energy during the 1st quarter valued at $36,000. 62.28% of the stock is currently 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.

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