Uranium Energy (NYSEAMERICAN:UEC) Shares Down 4.6% - Here's What Happened

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) traded down 4.6% on Friday . The company traded as low as $6.68 and last traded at $6.73. 7,606,297 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 9,027,200 shares. The stock had previously closed at $7.05.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. BMO Capital Markets assumed coverage on Uranium Energy in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 target price on the stock. Stifel Canada upgraded Uranium Energy to a "strong-buy" rating in a report on Tuesday, March 11th. HC Wainwright restated a "buy" rating and issued a $12.25 target price on shares of Uranium Energy in a report on Thursday, March 13th. Finally, Stifel Nicolaus set a $10.50 target price on Uranium Energy in a report on Wednesday, March 12th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $10.13.

Uranium Energy Price Performance

The stock has a fifty day moving average of $5.90 and a 200 day moving average of $6.44. The firm has a market capitalization of $3.02 billion, a P/E ratio of -40.00 and a beta of 1.39.

Institutional Trading of Uranium Energy

A number of large investors have recently bought and sold shares of UEC. New York State Common Retirement Fund increased its position in Uranium Energy by 12.9% in the fourth quarter. New York State Common Retirement Fund now owns 123,549 shares of the basic materials company's stock worth $827,000 after buying an additional 14,100 shares during the last quarter. US Bancorp DE raised its stake in shares of Uranium Energy by 7.7% during the 4th quarter. US Bancorp DE now owns 22,300 shares of the basic materials company's stock valued at $149,000 after purchasing an additional 1,600 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Uranium Energy during the 4th quarter valued at $134,000. Steward Partners Investment Advisory LLC raised its stake in shares of Uranium Energy by 22.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 20,380 shares of the basic materials company's stock valued at $136,000 after purchasing an additional 3,780 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Uranium Energy by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,409,129 shares of the basic materials company's stock valued at $22,807,000 after purchasing an additional 88,633 shares during the period. 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.