Westwater Resources (NASDAQ:WWR) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

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)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WWR. Wall Street Zen began coverage on Westwater Resources in a report on Wednesday, May 21st. They set a "sell" rating on the stock. HC Wainwright reiterated a "buy" rating and set a $2.00 price target on shares of Westwater Resources in a report on Friday.

Westwater Resources Price Performance

The firm has a fifty day simple moving average of $0.68 and a two-hundred day simple moving average of $0.63. The firm has a market capitalization of $66.65 million, a P/E ratio of -5.95 and a beta of 1.18.

Hedge Funds Weigh In On Westwater Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. bought a new position in Westwater Resources during the first quarter valued at $84,000. Jane Street Group LLC grew its holdings in Westwater Resources by 165.3% during the fourth quarter. Jane Street Group LLC now owns 56,249 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 35,046 shares during the period. Squarepoint Ops LLC grew its holdings in Westwater Resources by 30.4% during the fourth quarter. Squarepoint Ops LLC now owns 177,965 shares of the basic materials company's stock valued at $126,000 after purchasing an additional 41,515 shares during the period. Pinnacle Associates Ltd. grew its holdings in Westwater Resources by 53.0% during the first quarter. Pinnacle Associates Ltd. now owns 133,900 shares of the basic materials company's stock valued at $74,000 after purchasing an additional 46,400 shares during the period. Finally, Northern Trust Corp grew its holdings in Westwater Resources by 34.7% during the fourth quarter. Northern Trust Corp now owns 127,960 shares of the basic materials company's stock valued at $91,000 after purchasing an additional 32,952 shares during the period. 7.72% of the stock is owned by institutional investors.

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.