Uranium Energy (NYSEAMERICAN:UEC) Shares Down 7.7% - What's Next?

Key Points

• Uranium Energy Corp. experienced a significant decline in its stock price, which fell by 7.7%, trading as low as $9.76.
• Despite the drop, analysts have a positive outlook, with a consensus rating of "Buy" and an average price target of $10.91.
• Insider trading activity was noted, with Director David Kong selling 50,800 shares, decreasing his stake by 21.80%.

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) traded down 7.7% during mid-day trading on Tuesday . The company traded as low as $9.76 and last traded at $9.78. 2,958,821 shares traded hands during trading, a decline of 73% from the average session volume of 10,923,659 shares. The stock had previously closed at $10.60.

Analysts Set New Price Targets

A number of research firms have recently commented on UEC. BMO Capital Markets initiated coverage on Uranium Energy in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 price target for the company. TD Securities increased their price objective on Uranium Energy from $8.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, August 15th. HC Wainwright lifted their target price on Uranium Energy from $12.25 to $12.75 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group upgraded Uranium Energy to a "strong-buy" rating in a research report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $10.91.

Uranium Energy Stock Up 9.5%

The company's 50-day moving average is $8.10 and its two-hundred day moving average is $6.51. The company has a market capitalization of $4.68 billion, a P/E ratio of -61.94 and a beta of 1.44.

Insider Activity

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

Institutional Trading of Uranium Energy

Several hedge funds have recently added to or reduced their stakes in UEC. Blair William & Co. IL increased its holdings in shares of Uranium Energy by 1.1% in the second quarter. Blair William & Co. IL now owns 160,200 shares of the basic materials company's stock worth $1,089,000 after buying an additional 1,700 shares during the period. Ameritas Investment Partners Inc. grew its position in Uranium Energy by 4.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 43,475 shares of the basic materials company's stock worth $296,000 after acquiring an additional 1,742 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Uranium Energy by 13.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 15,629 shares of the basic materials company's stock worth $106,000 after purchasing an additional 1,878 shares during the period. Arizona State Retirement System increased its stake in 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 worth $580,000 after purchasing an additional 1,962 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Uranium Energy by 43.5% in the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 2,364 shares during the last quarter. 62.28% of the stock is owned by institutional investors.

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.