Uranium Energy (NYSEAMERICAN:UEC) Trading Down 5.4% - Should You Sell?

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s share price dropped 5.4% during trading on Tuesday . The stock traded as low as $6.23 and last traded at $6.22. Approximately 3,940,979 shares changed hands during trading, a decline of 61% from the average daily volume of 10,227,351 shares. The stock had previously closed at $6.57.

Wall Street Analyst Weigh In

UEC has been the topic of several research analyst reports. Stifel Canada upgraded Uranium Energy to a "strong-buy" rating in a research report on Tuesday, March 11th. Stifel Nicolaus set a $10.50 price objective on Uranium Energy in a research note on Wednesday, March 12th. BMO Capital Markets assumed coverage on Uranium Energy in a research report on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 price target for the company. Finally, HC Wainwright reissued a "buy" rating and set a $12.25 price objective on shares of Uranium Energy in a report on Thursday, March 13th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $10.13.

Uranium Energy Stock Down 3.8%

The business has a 50-day moving average price of $6.10 and a 200-day moving average price of $6.38. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -37.17 and a beta of 1.42.

Institutional Investors Weigh In On Uranium Energy

Several institutional investors have recently modified their holdings of the company. American Century Companies Inc. grew its position in Uranium Energy by 194.6% during the fourth quarter. American Century Companies Inc. now owns 1,143,327 shares of the basic materials company's stock worth $7,649,000 after buying an additional 755,285 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Uranium Energy during the fourth quarter worth $1,007,000. Swiss National Bank raised its position in shares of Uranium Energy by 1.4% in the 4th quarter. Swiss National Bank now owns 809,200 shares of the basic materials company's stock worth $5,414,000 after buying an additional 11,300 shares during the period. Ameriprise Financial Inc. raised its position in shares of Uranium Energy by 239.4% in the 4th quarter. Ameriprise Financial Inc. now owns 6,731,148 shares of the basic materials company's stock worth $45,036,000 after buying an additional 4,748,138 shares during the period. Finally, Summit Financial LLC purchased a new position in shares of Uranium Energy in the 4th quarter worth $4,098,000. 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.