Uranium Energy (NYSEAMERICAN:UEC) Stock Price Down 3.7% - Should You Sell?

Key Points

• Uranium Energy Corp.'s stock price fell 3.7% on Friday, closing at $13.17, while trading volume was down by 40% from its average.
• Wall Street analysts have a positive outlook, with several firms raising their price targets and maintaining a consensus rating of "Buy", with an average target price of $13.80.
• Insider trading activity includes Director David Kong selling 50,800 shares at an average price of $9.62, resulting in a 21.8% reduction in his ownership stake.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s share price was down 3.7% during mid-day trading on Friday . The company traded as low as $13.07 and last traded at $13.17. Approximately 7,101,509 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 11,840,324 shares. The stock had previously closed at $13.68.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UEC. TD Securities boosted their price objective on shares of Uranium Energy from $8.00 to $13.00 and gave the company a "buy" rating in a report on Friday, August 15th. BMO Capital Markets reiterated a "market perform" rating and issued a $14.00 target price (up previously from $7.75) on shares of Uranium Energy in a research report on Thursday, September 25th. HC Wainwright lifted their target price on shares of Uranium Energy from $12.75 to $19.75 and gave the company a "buy" rating in a research report on Thursday, September 25th. Zacks Research raised shares of Uranium Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, September 22nd. Finally, Roth Capital boosted their price target on shares of Uranium Energy from $11.50 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $13.80.

Uranium Energy Price Performance

The stock's 50-day moving average is $11.10 and its 200 day moving average is $7.67. The company has a market cap of $6.14 billion, a PE ratio of -77.70 and a beta of 1.40.

Insiders Place Their Bets

In other Uranium Energy news, Director David Kong sold 50,800 shares of Uranium Energy stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total value of $488,696.00. Following the sale, the director owned 182,237 shares in the company, valued at $1,753,119.94. The trade was a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Uranium Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UEC. IFP Advisors Inc grew its holdings in shares of Uranium Energy by 732.8% during the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company's stock worth $27,000 after purchasing an additional 3,503 shares in the last quarter. Operose Advisors LLC bought a new position in shares of Uranium Energy in the 2nd quarter valued at about $34,000. Versant Capital Management Inc bought a new position in shares of Uranium Energy during the 1st quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Uranium Energy in the 1st quarter valued at $36,000. Finally, Farther Finance Advisors LLC grew its position in Uranium Energy by 43.5% during the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock worth $36,000 after buying an additional 2,364 shares in the last quarter. Hedge funds and other 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.

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