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

Key Points

• Westwater Resources (NASDAQ:WWR) stock price has surpassed its 200-day moving average of $0.63, trading at $0.72 with a trading volume of 651,247 shares.
• Analysts maintain a positive outlook, with HC Wainwright reiterating a "buy" rating and a target price of $2.00, despite Wall Street Zen issuing a "sell" rating.
• The company, focused on developing battery-grade natural graphite materials, reported a market cap of $61.65 million and noted significant institutional trading activities in its shares.

Westwater Resources, Inc. (NASDAQ:WWR - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.63 and traded as high as $0.72. Westwater Resources shares last traded at $0.72, with a volume of 651,247 shares.

Wall Street Analysts Forecast Growth

WWR has been the topic of a number of research reports. HC Wainwright reaffirmed a "buy" rating and issued a $2.00 price target on shares of Westwater Resources in a research note on Friday, August 15th. Wall Street Zen assumed coverage on shares of Westwater Resources in a research report on Wednesday, May 21st. They issued a "sell" rating on the stock. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $2.00.

Westwater Resources Trading Up 1.5%

The company has a market capitalization of $64.69 million, a P/E ratio of -5.77 and a beta of 1.18. The company has a 50 day moving average price of $0.69 and a 200 day moving average price of $0.63.

Hedge Funds Weigh In On Westwater Resources

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of Westwater Resources by 16.7% during the 4th quarter. Geode Capital Management LLC now owns 608,045 shares of the basic materials company's stock worth $431,000 after buying an additional 87,087 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Westwater Resources by 30.4% in the 4th quarter. Squarepoint Ops LLC now owns 177,965 shares of the basic materials company's stock valued at $126,000 after acquiring an additional 41,515 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Westwater Resources during the first quarter worth approximately $84,000. Pinnacle Associates Ltd. boosted its holdings in shares of Westwater Resources by 53.0% during the first 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, Northern Trust Corp boosted its stake in Westwater Resources by 34.7% in the 4th 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.