Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Down – What’s Next?

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s share price gapped down prior to trading on Monday . The stock had previously closed at $11.59, but opened at $10.15. Uranium Energy shares last traded at $11.4320, with a volume of 5,369,100 shares traded.

Analysts Set New Price Targets

A number of research firms have recently commented on UEC. Zacks Research cut Uranium Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a research report on Friday, October 3rd. The Goldman Sachs Group raised their price objective on Uranium Energy from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 26th. Canaccord Genuity Group set a $17.50 price objective on Uranium Energy and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Stifel Nicolaus initiated coverage on Uranium Energy in a research note on Monday, October 6th. They set a “buy” rating and a $10.50 target price for the company. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.19.

Uranium Energy Price Performance

The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of -66.67 and a beta of 1.40. The stock has a 50 day moving average price of $13.50 and a 200-day moving average price of $9.68.

Institutional Investors Weigh In On Uranium Energy

A number of hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC lifted its stake in shares of Uranium Energy by 3.1% in the third quarter. CoreCap Advisors LLC now owns 25,200 shares of the basic materials company’s stock worth $336,000 after buying an additional 750 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of Uranium Energy by 31.0% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 4,654 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 1,100 shares during the last quarter. Ascent Wealth Partners LLC boosted its holdings in shares of Uranium Energy by 8.3% during the 3rd quarter. Ascent Wealth Partners LLC now owns 17,336 shares of the basic materials company’s stock worth $231,000 after purchasing an additional 1,334 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Uranium Energy by 6.5% in the third quarter. Mackenzie Financial Corp now owns 27,474 shares of the basic materials company’s stock valued at $367,000 after purchasing an additional 1,665 shares during the last quarter. Finally, Fiduciary Trust Co increased its holdings in shares of Uranium Energy by 8.1% in the third quarter. Fiduciary Trust Co now owns 22,332 shares of the basic materials company’s stock valued at $298,000 after purchasing an additional 1,680 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Uranium Energy Company Profile

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.