Investors Buy Large Volume of Westwater Resources Call Options (NASDAQ:WWR)

Westwater Resources, Inc. (NASDAQ:WWR) was the recipient of unusually large options trading activity on Monday. Traders purchased 3,768 call options on the stock. This is an increase of approximately 585% compared to the typical volume of 550 call options.

Westwater Resources Price Performance

Shares of WWR traded down $0.13 during trading hours on Monday, hitting $0.64. The stock had a trading volume of 10,900,484 shares, compared to its average volume of 2,224,131. The company’s fifty day moving average is $0.48 and its two-hundred day moving average is $0.66. Westwater Resources has a 52 week low of $0.38 and a 52 week high of $3.75. The stock has a market capitalization of $81.24 million, a price-to-earnings ratio of -4.87 and a beta of 1.62.

Analyst Ratings Changes

A number of research firms have weighed in on WWR. HC Wainwright decreased their price objective on Westwater Resources from $1.75 to $1.50 and set a “buy” rating on the stock in a report on Monday, August 3rd. Maxim Group began coverage on Westwater Resources in a report on Wednesday, April 15th. They issued a “buy” rating and a $2.00 target price for the company. Finally, D. Boral Capital began coverage on Westwater Resources in a research report on Thursday, June 11th. They set a “buy” rating and a $3.00 target price for the company. Three research analysts have 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 $2.17.

Institutional Trading of Westwater Resources

Several large investors have recently added to or reduced their stakes in WWR. Renaissance Technologies LLC raised its stake in shares of Westwater Resources by 169.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,836,890 shares of the basic materials company’s stock valued at $2,128,000 after acquiring an additional 1,783,833 shares during the last quarter. Geode Capital Management LLC grew its position in Westwater Resources by 54.4% during the 4th quarter. Geode Capital Management LLC now owns 1,288,757 shares of the basic materials company’s stock worth $967,000 after acquiring an additional 454,005 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Westwater Resources during the 3rd quarter valued at $972,000. XTX Topco Ltd increased its holdings in Westwater Resources by 717.9% during the 4th quarter. XTX Topco Ltd now owns 610,853 shares of the basic materials company’s stock valued at $458,000 after purchasing an additional 536,170 shares in the last quarter. Finally, Brooklands Fund Management Ltd increased its holdings in Westwater Resources by 117.7% during the 1st quarter. Brooklands Fund Management Ltd now owns 575,000 shares of the basic materials company’s stock valued at $376,000 after purchasing an additional 310,894 shares in the last quarter. 7.72% of the stock is owned by institutional investors.

Westwater Resources Company Profile

Westwater Resources, Inc (NASDAQ: WWR) is a Houston?based mineral development company focused on advancing sustainable sources of battery?grade graphite for the lithium?ion battery market. The company’s primary asset is the Coosa Graphite Project in east?central Alabama, where Westwater is working to establish a fully integrated, U.S.?based supply chain for natural spherical graphite. By leveraging in?house purification and spheronization technology, Westwater aims to produce high?purity graphite suitable for electric vehicle and stationary energy storage applications.

Originally founded as a diversified natural resources company, Westwater Resources has realigned its strategy toward critical battery minerals.