Westwater Resources (NASDAQ:WWR) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Westwater Resources shares have surpassed their 200-day moving average, trading at $0.73, which indicates a positive trend in its stock performance.
• Equities analysts have mixed views on Westwater Resources, with HC Wainwright lowering their price target to $2.00 while Wall Street Zen issued a "sell" rating.
• Institutional investors are showing increased interest, with significant stake increases from firms like Jane Street Group LLC and Renaissance Technologies LLC, collectively owning 7.72% of the company’s stock.

Westwater Resources, Inc. (NASDAQ:WWR - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.64 and traded as high as $0.74. Westwater Resources shares last traded at $0.73, with a volume of 681,784 shares.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WWR shares. HC Wainwright dropped their price objective on shares of Westwater Resources from $2.50 to $2.00 and set a "buy" rating on the stock in a report on Thursday, June 12th. Wall Street Zen started coverage on shares of Westwater Resources in a report on Wednesday, May 21st. They issued a "sell" rating on the stock.

Westwater Resources Stock Up 3.1%

The company has a market cap of $55.78 million, a PE ratio of -5.62 and a beta of 1.18. The business's fifty day moving average is $0.67 and its 200-day moving average is $0.64.

Institutional Investors Weigh In On Westwater Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC raised its stake 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 bought a new stake in Westwater Resources during the 1st quarter worth approximately $55,000. Renaissance Technologies LLC raised its stake in Westwater Resources by 536.3% during the 4th quarter. Renaissance Technologies LLC now owns 99,201 shares of the basic materials company's stock worth $70,000 after acquiring an additional 83,611 shares during the period. Pinnacle Associates Ltd. raised its stake in Westwater Resources by 53.0% during 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. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Westwater Resources during the 1st quarter worth approximately $84,000. Institutional investors own 7.72% of the company's stock.

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.

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