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

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares gapped down before the market opened on Thursday . The stock had previously closed at $12.95, but opened at $12.56. Uranium Energy shares last traded at $13.5650, with a volume of 1,878,193 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on UEC shares. The Goldman Sachs Group upped their price target on shares of Uranium Energy from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 26th. HC Wainwright increased their target price on Uranium Energy from $12.75 to $19.75 and gave the company a “buy” rating in a report on Thursday, September 25th. BMO Capital Markets reissued a “market perform” rating and set a $14.00 price target (up previously from $7.75) on shares of Uranium Energy in a research report on Thursday, September 25th. Roth Capital boosted their price target on Uranium Energy from $11.50 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Stifel Nicolaus assumed coverage on Uranium Energy in a research note on Monday, October 6th. They set a “buy” rating and a $10.50 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Uranium Energy has an average rating of “Buy” and an average price target of $14.19.

Uranium Energy Trading Up 7.5%

The firm has a 50 day moving average price of $13.30 and a two-hundred day moving average price of $10.23. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of -82.13 and a beta of 1.35.

Institutional Trading of Uranium Energy

A number of hedge funds have recently made changes to their positions in UEC. Norges Bank purchased a new position in shares of Uranium Energy in the second quarter valued at $105,058,000. Vanguard Group Inc. lifted its holdings in Uranium Energy by 34.5% in the 3rd quarter. Vanguard Group Inc. now owns 35,726,216 shares of the basic materials company’s stock worth $476,588,000 after buying an additional 9,159,024 shares in the last quarter. Caxton Associates LLP boosted its position in Uranium Energy by 11,233.4% in the 2nd quarter. Caxton Associates LLP now owns 4,093,058 shares of the basic materials company’s stock valued at $27,833,000 after buying an additional 4,056,943 shares during the last quarter. Encompass Capital Advisors LLC grew its stake in shares of Uranium Energy by 255.1% during the first quarter. Encompass Capital Advisors LLC now owns 4,223,438 shares of the basic materials company’s stock valued at $20,188,000 after acquiring an additional 3,033,974 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Uranium Energy by 9.9% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,599,686 shares of the basic materials company’s stock valued at $354,847,000 after acquiring an additional 2,393,683 shares in the last quarter. Hedge funds and other 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.