NexGen Energy (NYSE:NXE) Trading Down 6.2%

Shares of NexGen Energy Ltd. (NYSE:NXE) dropped 6.2% on Tuesday . The company traded as low as $7.90 and last traded at $7.93. Approximately 1,810,817 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 6,238,408 shares. The stock had previously closed at $8.45.

Wall Street Analyst Weigh In

Separately, Scotiabank began coverage on NexGen Energy in a research report on Monday, April 1st. They set a “sector outperform” rating for the company.

NexGen Energy Stock Down 8.8 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 11.00 and a quick ratio of 11.00. The company has a 50 day moving average of $7.67 and a 200-day moving average of $7.09. The company has a market cap of $4.16 billion, a P/E ratio of 396.20 and a beta of 1.90.

NexGen Energy (NYSE:NXE) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). On average, equities analysts predict that NexGen Energy Ltd. will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On NexGen Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in NexGen Energy during the third quarter valued at about $28,000. Anchor Investment Management LLC purchased a new stake in NexGen Energy during the fourth quarter worth $63,000. Financial Security Advisor Inc. purchased a new stake in shares of NexGen Energy during the 3rd quarter valued at $61,000. Clear Street Markets LLC acquired a new position in shares of NexGen Energy in the 3rd quarter valued at $65,000. Finally, Spartan Fund Management Inc. acquired a new position in shares of NexGen Energy in the 4th quarter valued at $86,000. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

NexGen Energy Company Profile

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.