Westwater Resources (NASDAQ:WWR) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of Westwater Resources, Inc. (NASDAQ:WWR) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.00 and traded as high as $1.26. Westwater Resources shares last traded at $1.19, with a volume of 3,178,259 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reduced their price objective on Westwater Resources from $2.00 to $1.75 and set a “buy” rating for the company in a research note on Thursday, November 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Westwater Resources has an average rating of “Buy” and an average price target of $1.75.

Westwater Resources Price Performance

The stock has a market cap of $140.41 million, a price-to-earnings ratio of -9.15 and a beta of 1.49. The business has a fifty day moving average of $0.95 and a 200 day moving average of $1.00.

Institutional Investors Weigh In On Westwater Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Baader Bank Aktiengesellschaft bought a new stake in Westwater Resources in the third quarter worth $29,000. Centiva Capital LP acquired a new stake in shares of Westwater Resources in the third quarter worth about $64,000. Evernest Financial Advisors LLC bought a new stake in shares of Westwater Resources during the 3rd quarter worth about $95,000. Soviero Asset Management LP acquired a new position in shares of Westwater Resources during the 3rd quarter valued at about $446,000. Finally, Two Sigma Investments LP acquired a new position in shares of Westwater Resources during the 3rd quarter valued at about $972,000. Institutional investors and hedge funds own 7.72% of the company’s stock.

Westwater Resources Company Profile

Westwater Resources, Inc (NASDAQ: WWR) is a Houston‐based mineral development company focused on advancing sustainable sources of battery‐grade graphite for the lithium‐ion battery market. The company’s primary asset is the Coosa Graphite Project in east‐central Alabama, where Westwater is working to establish a fully integrated, U.S.‐based supply chain for natural spherical graphite. By leveraging in‐house purification and spheronization technology, Westwater aims to produce high‐purity graphite suitable for electric vehicle and stationary energy storage applications.

Originally founded as a diversified natural resources company, Westwater Resources has realigned its strategy toward critical battery minerals.