Westwater Resources Target of Unusually High Options Trading (NASDAQ:WWR)

Key Points

• Westwater Resources, Inc. (NASDAQ:WWR) experienced an unusual increase in options trading, with 4,576 call options traded, a rise of 268% from its average volume.
• The company's stock price rose by 16.1% on Monday, reaching $1.41, with a significant trading volume of about 3.98 million shares.
• HC Wainwright reaffirmed a buy rating for Westwater Resources with a target price of $2.00, amidst positive analyst sentiment for the stock.

Westwater Resources, Inc. (NASDAQ:WWR - Get Free Report) saw unusually large options trading activity on Monday. Traders acquired 4,576 call options on the stock. This represents an increase of 268% compared to the average volume of 1,244 call options.

Westwater Resources Trading Up 16.1%

NASDAQ:WWR traded up $0.20 during midday trading on Monday, hitting $1.41. 3,982,493 shares of the company traded hands, compared to its average volume of 1,420,999. The firm's fifty day moving average is $0.79 and its 200-day moving average is $0.64. Westwater Resources has a 12-month low of $0.45 and a 12-month high of $1.41. The firm has a market capitalization of $121.15 million, a P/E ratio of -10.81 and a beta of 1.49.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $2.00 target price on shares of Westwater Resources in a research report on Friday, August 15th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $2.00.

Institutional Trading of Westwater Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of WWR. Cambridge Investment Research Advisors Inc. purchased a new stake in Westwater Resources in the first quarter worth $84,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Westwater Resources in the first quarter worth $55,000. Pinnacle Associates Ltd. increased its stake in Westwater Resources by 53.0% in the first quarter. Pinnacle Associates Ltd. now owns 133,900 shares of the basic materials company's stock worth $74,000 after purchasing an additional 46,400 shares during the period. Squarepoint Ops LLC increased its stake in Westwater Resources by 30.4% in the fourth quarter. Squarepoint Ops LLC now owns 177,965 shares of the basic materials company's stock worth $126,000 after purchasing an additional 41,515 shares during the period. Finally, Jane Street Group LLC increased its stake in Westwater Resources by 165.3% in the fourth quarter. Jane Street Group LLC now owns 56,249 shares of the basic materials company's stock worth $40,000 after purchasing an additional 35,046 shares during the period. Hedge funds and other institutional investors own 7.72% of the company's stock.

About Westwater Resources

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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