Westwater Resources (NASDAQ:WWR) Stock Price Down 1.5% – What’s Next?

Westwater Resources, Inc. (NASDAQ:WWR) dropped 1.5% during mid-day trading on Wednesday. The company traded as low as $0.3970 and last traded at $0.4014. Approximately 576,355 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,917,954 shares. The stock had previously closed at $0.4076.

Analysts Set New Price Targets

Separately, HC Wainwright reduced their target price on Westwater Resources from $1.75 to $1.50 and set a “buy” rating for the company in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $2.17.

Westwater Resources Price Performance

The stock has a market capitalization of $51.61 million, a PE ratio of -3.09 and a beta of 1.83. The stock’s fifty day moving average is $0.48 and its 200-day moving average is $0.60.

Hedge Funds Weigh In On Westwater Resources

Large investors have recently added to or reduced their stakes in the stock. Intrua Financial LLC acquired a new stake in Westwater Resources in the 3rd quarter worth about $547,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Westwater Resources during the first quarter valued at approximately $87,000. Brooklands Fund Management Ltd raised its holdings in shares of Westwater Resources by 117.7% during the first quarter. Brooklands Fund Management Ltd now owns 575,000 shares of the basic materials company’s stock valued at $376,000 after acquiring an additional 310,894 shares during the last quarter. Finally, Evernest Financial Advisors LLC raised its holdings in shares of Westwater Resources by 200.0% during the first quarter. Evernest Financial Advisors LLC now owns 120,000 shares of the basic materials company’s stock valued at $79,000 after acquiring an additional 80,000 shares during the last quarter. 7.72% of the stock is currently owned by institutional investors and hedge funds.

Westwater Resources Company Profile

Westwater Resources, Inc. is a U.S.-based company focused on developing domestic sources of natural graphite and producing graphite products for the lithium-ion battery industry. Through its Alabama-based operations, the company is working to supply battery-grade graphite and coated, purified spherical graphite intended for use as anode material in electric vehicle and energy-storage batteries. Westwater’s principal assets include the Coosa Graphite Project in east-central Alabama, which is intended to provide natural graphite feedstock, and the Kellyton Graphite Processing Plant in Kellyton, Alabama.