NexGen Energy Sees Unusually Large Options Volume (NYSE:NXE)

NexGen Energy (NYSE:NXE) was the target of unusually large options trading activity on Wednesday. Stock traders purchased 12,558 call options on the stock. This is an increase of 62% compared to the typical daily volume of 7,751 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. New Harbor Financial Group LLC grew its stake in shares of NexGen Energy by 4.3% in the 4th quarter. New Harbor Financial Group LLC now owns 24,500 shares of the company’s stock valued at $225,000 after buying an additional 1,000 shares during the period. Legacy Capital Group California Inc. raised its position in shares of NexGen Energy by 1.3% during the 4th quarter. Legacy Capital Group California Inc. now owns 86,250 shares of the company’s stock valued at $794,000 after buying an additional 1,093 shares during the period. Leonteq Securities AG lifted its holdings in NexGen Energy by 88.2% in the first quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock valued at $28,000 after acquiring an additional 1,098 shares during the last quarter. Tidal Investments LLC lifted its holdings in NexGen Energy by 6.9% in the second quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock valued at $194,000 after acquiring an additional 1,817 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in NexGen Energy by 5.7% in the second quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock worth $243,000 after acquiring an additional 1,904 shares during the period. Hedge funds and other institutional investors own 42.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on NXE shares. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NexGen Energy has an average rating of “Moderate Buy”.

NexGen Energy Stock Down 1.0%

Shares of NexGen Energy stock traded down $0.10 during midday trading on Wednesday, hitting $9.26. The company had a trading volume of 4,374,254 shares, compared to its average volume of 7,316,329. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of -18.91 and a beta of 1.39. The company has a fifty day simple moving average of $10.59 and a 200 day simple moving average of $11.36. NexGen Energy has a 12-month low of $6.26 and a 12-month high of $13.96.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.