Uranium Energy (NYSEAMERICAN:UEC) Stock Price Down 6.9% – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares were down 6.9% during trading on Wednesday . The company traded as low as $13.72 and last traded at $13.4580. Approximately 1,464,333 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 10,068,156 shares. The stock had previously closed at $14.46.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. HC Wainwright raised their target price on shares of Uranium Energy from $26.50 to $26.75 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Roth Mkm set a $17.00 price objective on Uranium Energy in a research note on Wednesday, March 11th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Uranium Energy in a research report on Wednesday, February 4th. Finally, TD Securities dropped their price target on Uranium Energy from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.66.

Uranium Energy Price Performance

The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of -124.08 and a beta of 1.18. The company’s 50-day simple moving average is $14.14 and its 200-day simple moving average is $14.27.

Uranium Energy (NYSEAMERICAN:UEC) last posted its earnings results on Tuesday, March 10th. The basic materials company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $20.20 million during the quarter, compared to analyst estimates of $12.85 million. Research analysts expect that Uranium Energy Corp. will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in UEC. Hsbc Holdings PLC boosted its position in shares of Uranium Energy by 50.9% in the first quarter. Hsbc Holdings PLC now owns 369,005 shares of the basic materials company’s stock valued at $4,948,000 after acquiring an additional 124,440 shares during the period. Kestra Advisory Services LLC boosted its holdings in Uranium Energy by 66.5% in the 1st quarter. Kestra Advisory Services LLC now owns 21,127 shares of the basic materials company’s stock valued at $285,000 after purchasing an additional 8,439 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in Uranium Energy in the 1st quarter valued at about $292,000. Strs Ohio grew its position in shares of Uranium Energy by 11.9% during the 1st quarter. Strs Ohio now owns 46,200 shares of the basic materials company’s stock worth $624,000 after purchasing an additional 4,900 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Uranium Energy by 9.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 79,847 shares of the basic materials company’s stock worth $1,078,000 after purchasing an additional 6,874 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

About Uranium Energy

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.