Uranium Energy (NYSEAMERICAN:UEC) Trading Down 11.1% – Here’s What Happened

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) were down 11.1% during trading on Thursday . The company traded as low as $13.37 and last traded at $13.37. Approximately 5,975,630 shares were traded during trading, a decline of 44% from the average daily volume of 10,594,344 shares. The stock had previously closed at $15.04.

Analysts Set New Price Targets

A number of analysts have commented on UEC shares. Roth Mkm reiterated a “buy” rating and issued a $16.00 price objective on shares of Uranium Energy in a report on Thursday, December 11th. The Goldman Sachs Group restated a “buy” rating and issued a $18.00 price objective on shares of Uranium Energy in a report on Wednesday, February 4th. National Bank Financial upped their price target on Uranium Energy from $15.50 to $16.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Finally, Zacks Research raised shares of Uranium Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.66.

Uranium Energy Stock Down 5.6%

The business’s fifty day moving average price is $15.89 and its 200 day moving average price is $13.81. The firm has a market capitalization of $6.25 billion, a PE ratio of -107.75 and a beta of 1.21.

Institutional Investors Weigh In On Uranium Energy

Hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of Uranium Energy during the 4th quarter valued at about $2,857,000. Caitong International Asset Management Co. Ltd acquired a new stake in Uranium Energy in the 4th quarter valued at $39,000. Pacer Advisors Inc. purchased a new stake in shares of Uranium Energy during the 4th quarter valued at about $2,190,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Uranium Energy during the fourth quarter valued at approximately $16,578,000. Finally, TMB Capital Partners LLC acquired a new position in Uranium Energy in the 4th quarter worth $117,000. 62.28% of the stock is owned by institutional investors and hedge funds.

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.