Westwater Resources (NASDAQ:WWR) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Westwater Resources (NASDAQ:WWR) shares surpassed their 200-day moving average of $0.62, trading as high as $0.71 and closing at $0.70 with significant volume.
• Equities analysts currently hold a consensus rating of "Buy" for the stock, with HC Wainwright setting a price target of $2.00.
• Recent institutional investments included Jane Street Group boosting its stake by 165.3%, reflecting growing interest in Westwater Resources.

Westwater Resources, Inc. (NASDAQ:WWR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.62 and traded as high as $0.71. Westwater Resources shares last traded at $0.70, with a volume of 912,279 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen assumed coverage on Westwater Resources in a research note on Wednesday, May 21st. They set a "sell" rating for the company. HC Wainwright reissued a "buy" rating and set a $2.00 price target on shares of Westwater Resources in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $2.00.

Westwater Resources Price Performance

The company has a market capitalization of $59.94 million, a price-to-earnings ratio of -5.35 and a beta of 1.30. The business has a fifty day moving average price of $0.73 and a 200 day moving average price of $0.62.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC boosted its stake 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 buying an additional 35,046 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Westwater Resources during the first quarter valued at about $55,000. Northern Trust Corp lifted its position in shares of Westwater Resources by 34.7% during the 4th quarter. Northern Trust Corp now owns 127,960 shares of the basic materials company's stock valued at $91,000 after acquiring an additional 32,952 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Westwater Resources by 53.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 133,900 shares of the basic materials company's stock valued at $74,000 after acquiring an additional 46,400 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Westwater Resources during 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.

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