Uranium Energy (NYSEAMERICAN:UEC) Shares Up 7.5% – Here’s What Happened

Uranium Energy Corp. (NYSEAMERICAN:UEC) was up 7.5% during trading on Friday . The company traded as high as $7.95 and last traded at $7.91. Approximately 2,897,382 shares were traded during trading, a decline of 61% from the average daily volume of 7,512,712 shares. The stock had previously closed at $7.36.

Analyst Upgrades and Downgrades

UEC has been the topic of several recent research reports. Roth Mkm reissued a “buy” rating and issued a $10.25 price target (up previously from $9.75) on shares of Uranium Energy in a research note on Wednesday, October 23rd. HC Wainwright reaffirmed a “buy” rating and set a $10.25 price objective on shares of Uranium Energy in a research report on Tuesday, September 24th.

Uranium Energy Stock Performance

The stock has a 50-day simple moving average of $6.44. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -123.65 and a beta of 1.82.

Uranium Energy (NYSEAMERICAN:UEC) last announced its earnings results on Thursday, September 26th. The basic materials company reported ($0.03) EPS for the quarter. On average, sell-side analysts predict that Uranium Energy Corp. will post 0.09 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Scott Melbye purchased 9,500 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $4.18 per share, for a total transaction of $39,710.00. Following the purchase, the executive vice president now owns 988,031 shares of the company’s stock, valued at $4,129,969.58. The trade was a 0.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amir Adnani purchased 60,000 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $4.10 per share, for a total transaction of $246,000.00. Following the transaction, the chief executive officer now owns 4,242,326 shares of the company’s stock, valued at approximately $17,393,536.60. This trade represents a 1.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. EntryPoint Capital LLC lifted its position in Uranium Energy by 897.7% in the 1st quarter. EntryPoint Capital LLC now owns 4,340 shares of the basic materials company’s stock worth $29,000 after buying an additional 3,905 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Uranium Energy during the second quarter valued at approximately $26,000. Farther Finance Advisors LLC increased its stake in shares of Uranium Energy by 5,130.4% during the third quarter. Farther Finance Advisors LLC now owns 4,812 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 4,720 shares in the last quarter. Quintet Private Bank Europe S.A. purchased a new position in shares of Uranium Energy in the 3rd quarter worth about $33,000. Finally, BNP Paribas purchased a new stake in shares of Uranium Energy during the third quarter valued at approximately $38,000. Institutional investors own 62.28% of the company’s stock.

About Uranium Energy

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.