Uranium Energy (NYSEAMERICAN:UEC) Trading 7.5% Higher - Time to Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s share price rose 7.5% on Wednesday . The company traded as high as $7.32 and last traded at $7.51. Approximately 12,149,440 shares traded hands during mid-day trading, an increase of 31% from the average daily volume of 9,305,203 shares. The stock had previously closed at $6.98.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets began coverage on Uranium Energy in a report on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 target price on the stock. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $10.13.

Uranium Energy Trading Down 1.6%

The company has a market cap of $3.57 billion, a PE ratio of -47.23 and a beta of 1.42. The business's 50-day simple moving average is $6.31 and its 200-day simple moving average is $6.33.

Hedge Funds Weigh In On Uranium Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of Uranium Energy by 194.6% in 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 acquiring an additional 755,285 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Uranium Energy by 101.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,196 shares of the basic materials company's stock valued at $111,000 after purchasing an additional 11,688 shares in the last quarter. General American Investors Co. Inc. bought a new stake in Uranium Energy in the first quarter valued at approximately $5,296,000. Raymond James Financial Inc. acquired a new position in shares of Uranium Energy in the fourth quarter valued at approximately $1,007,000. Finally, Swiss National Bank boosted its holdings in shares of Uranium Energy by 1.4% in the fourth quarter. Swiss National Bank now owns 809,200 shares of the basic materials company's stock valued at $5,414,000 after buying an additional 11,300 shares during the period. Institutional investors own 62.28% of the company's stock.

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.