Westwater Resources, Inc. (NASDAQ:WWR) Sees Large Growth 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) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 1,360,000 shares, agrowthof3,225.2% from the June 30th total of 40,900 shares. Based on an average daily volume of 1,330,000 shares, the short-interest ratio is presently 1.0 days. Based on an average daily volume of 1,330,000 shares, the short-interest ratio is presently 1.0 days.

Westwater Resources Trading Down 1.5%

NASDAQ WWR traded down $0.01 during trading on Tuesday, hitting $0.76. 335,796 shares of the company traded hands, compared to its average volume of 1,074,410. Westwater Resources has a 12 month low of $0.45 and a 12 month high of $1.32. The business has a fifty day simple moving average of $0.63 and a 200 day simple moving average of $0.65. The company has a market capitalization of $57.92 million, a P/E ratio of -5.83 and a beta of 1.18.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WWR. HC Wainwright cut their target price on Westwater Resources from $2.50 to $2.00 and set a "buy" rating on the stock in a research report on Thursday, June 12th. Wall Street Zen assumed coverage on Westwater Resources in a report on Wednesday, May 21st. They issued a "sell" rating for the company.

Institutional Investors Weigh In On Westwater Resources

Institutional investors have recently added to or reduced their stakes in the stock. 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 worth $40,000 after acquiring an additional 35,046 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Westwater Resources during the 1st quarter worth $55,000. Renaissance Technologies LLC increased its position in shares of Westwater Resources by 536.3% in the 4th quarter. Renaissance Technologies LLC now owns 99,201 shares of the basic materials company's stock valued at $70,000 after buying an additional 83,611 shares in the last quarter. Pinnacle Associates Ltd. increased its position 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 valued at $74,000 after buying an additional 46,400 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Westwater Resources in the 1st quarter valued at $84,000. 7.72% of the stock is owned by institutional investors and hedge funds.

Westwater Resources Company Profile

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.