Uranium Energy (NYSEAMERICAN:UEC) Stock Price Down 4.9% Following Insider Selling

Key Points

• Uranium Energy Corp.'s stock price dropped by 4.9% following an insider sale of shares by Director David Kong, who sold 50,800 shares at an average price of $9.62.
• Brokerages are optimistic about Uranium Energy, with HC Wainwright raising its price target from $12.25 to $12.75 and maintaining a "buy" rating.
• Institutional investors own 62.28% of Uranium Energy, with significant recent increases in stakes from several funds, indicating strong institutional interest in the company.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) was down 4.9% during trading on Monday after an insider sold shares in the company. The stock traded as low as $9.61 and last traded at $9.69. Approximately 5,631,020 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 10,901,286 shares. The stock had previously closed at $10.18.

Specifically, 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 directly owned 182,237 shares of the company's stock, valued at $1,753,119.94. This trade represents a 21.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of brokerages recently commented on UEC. HC Wainwright upped their price target on shares of Uranium Energy from $12.25 to $12.75 and gave the company a "buy" rating in a research note on Wednesday, August 6th. BMO Capital Markets began coverage on shares of Uranium Energy in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 price target on the stock. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $10.21.

Uranium Energy Stock Performance

The stock has a market cap of $4.31 billion, a PE ratio of -57.03 and a beta of 1.44. The business has a 50-day moving average of $7.32 and a 200 day moving average of $6.34.

Institutional Investors Weigh In On Uranium Energy

A number of institutional investors and hedge funds have recently bought and sold shares of UEC. General American Investors Co. Inc. acquired a new stake in Uranium Energy during the 1st quarter valued at $5,296,000. Wealth Enhancement Advisory Services LLC increased its position in Uranium Energy by 101.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,196 shares of the basic materials company's stock worth $111,000 after buying an additional 11,688 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Uranium Energy by 120.0% in the first quarter. Victory Capital Management Inc. now owns 5,930,920 shares of the basic materials company's stock valued at $28,350,000 after purchasing an additional 3,235,394 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Uranium Energy by 239.4% in the fourth quarter. Ameriprise Financial Inc. now owns 6,731,148 shares of the basic materials company's stock valued at $45,036,000 after buying an additional 4,748,138 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Uranium Energy by 1.6% in the 1st quarter. Arizona State Retirement System now owns 121,359 shares of the basic materials company's stock valued at $580,000 after acquiring an additional 1,962 shares during the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

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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