Uranium Energy (NYSEAMERICAN:UEC) Shares Down 8.1% – Time to Sell?

Uranium Energy Corp. (NYSEAMERICAN:UEC) dropped 8.1% on Tuesday . The stock traded as low as $12.40 and last traded at $12.1270. Approximately 1,323,229 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 9,896,203 shares. The stock had previously closed at $13.20.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $18.00 price target on shares of Uranium Energy in a report on Wednesday, February 4th. Roth Mkm set a $17.00 target price on Uranium Energy in a research report on Wednesday, March 11th. HC Wainwright lifted their target price on Uranium Energy from $26.50 to $26.75 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Finally, TD Securities decreased their target price on Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Uranium Energy has a consensus rating of “Moderate Buy” and an average target price of $17.66.

Uranium Energy Stock Performance

The company has a 50 day moving average of $14.07 and a two-hundred day moving average of $14.28. The stock has a market capitalization of $5.89 billion, a PE ratio of -100.13 and a beta of 1.17.

Uranium Energy (NYSEAMERICAN:UEC) last announced its earnings results on Tuesday, March 10th. The basic materials company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $20.20 million for the quarter, compared to analysts’ expectations of $12.85 million. As a group, research analysts predict that Uranium Energy Corp. will post -0.12 EPS for the current fiscal year.

Institutional Trading of Uranium Energy

Several large investors have recently added to or reduced their stakes in UEC. Ameritas Advisory Services LLC acquired a new position in shares of Uranium Energy in the 3rd quarter valued at about $33,000. Strategic Advocates LLC acquired a new position in shares of Uranium Energy in the 3rd quarter valued at about $40,000. Sound Income Strategies LLC lifted its holdings in shares of Uranium Energy by 159.1% in the 4th quarter. Sound Income Strategies LLC now owns 3,094 shares of the basic materials company’s stock valued at $36,000 after buying an additional 1,900 shares during the period. PenderFund Capital Management Ltd. acquired a new position in shares of Uranium Energy in the 4th quarter valued at about $39,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Uranium Energy in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Uranium Energy Company Profile

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company’s core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy’s approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company’s primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.