Westwater Resources, Inc. (NASDAQ:WWR) Sees Significant Increase in Short Interest

Key Points

• Westwater Resources experienced a dramatic increase in short interest, growing by 3,225.2% in July, reaching a total of 1,360,000 shares.
• Institutional investors have been actively modifying their stakes in Westwater Resources, with some increasing their holdings significantly, such as Pinnacle Associates Ltd. which grew by 53% in the first quarter.
• Market analysts have mixed opinions on Westwater Resources, with HC Wainwright reducing their target price from $2.50 to $2.00 while maintaining a "buy" rating.

Westwater Resources, Inc. (NASDAQ:WWR - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 1,360,000 shares, anincreaseof3,225.2% from the June 30th total of 40,900 shares. Based on an average trading volume of 1,330,000 shares, the short-interest ratio is presently 1.0 days. Based on an average trading volume of 1,330,000 shares, the short-interest ratio is presently 1.0 days.

Hedge Funds Weigh In On Westwater Resources

A number of large investors have recently modified their holdings of the business. Pinnacle Associates Ltd. grew its holdings in shares of Westwater Resources by 53.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 133,900 shares of the basic materials company's stock worth $74,000 after acquiring an additional 46,400 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Westwater Resources in the 1st quarter worth approximately $55,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Westwater Resources in the 1st quarter worth approximately $84,000. Squarepoint Ops LLC grew its holdings in Westwater Resources by 30.4% during the 4th quarter. Squarepoint Ops LLC now owns 177,965 shares of the basic materials company's stock valued at $126,000 after buying an additional 41,515 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in Westwater Resources by 165.3% during the 4th quarter. Jane Street Group LLC now owns 56,249 shares of the basic materials company's stock valued at $40,000 after buying an additional 35,046 shares during the last quarter. 7.72% of the stock is owned by hedge funds and other institutional investors.

Westwater Resources Price Performance

Shares of WWR stock traded up $0.01 during trading hours on Friday, reaching $0.72. 594,902 shares of the company's stock were exchanged, compared to its average volume of 1,080,728. The company has a market cap of $55.09 million, a P/E ratio of -5.58 and a beta of 1.11. The company's 50 day moving average is $0.62 and its two-hundred day moving average is $0.65. Westwater Resources has a 1 year low of $0.45 and a 1 year high of $1.32.

Wall Street Analysts Forecast Growth

Several analysts have commented on WWR shares. Wall Street Zen started coverage on Westwater Resources in a research note on Wednesday, May 21st. They set a "sell" rating for the company. HC Wainwright cut their target price on Westwater Resources from $2.50 to $2.00 and set a "buy" rating for the company in a research note on Thursday, June 12th.

About Westwater Resources

Westwater Resources, Inc operates as an energy technology company, focuses on developing battery-grade natural graphite materials. The company holds interests in Kellyton Graphite Plant located in Kellyton, Alabama; and Bama Mine Project situated in south Alabama. It holds interests in Coosa graphite project located in Coosa County, Alabama.

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