Uranium Energy (NYSEAMERICAN:UEC) Hits New 1-Year Low – Time to Sell?

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s share price hit a new 52-week low on Thursday. The company traded as low as $6.52 and last traded at $6.5290, with a volume of 3,941,700 shares changing hands. The stock had previously closed at $7.19.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on UEC shares. National Bank Financial dropped their price objective on shares of Uranium Energy from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, October 5th. Royal Bank Of Canada assumed coverage on Uranium Energy in a research report on Friday, October 2nd. They set a “sector perform” rating and a $10.00 target price for the company. Jefferies Financial Group began coverage on Uranium Energy in a research report on Thursday, September 3rd. They issued a “hold” rating and a $11.50 price objective for the company. Zacks Research cut Uranium Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Finally, HC Wainwright restated a “buy” rating and set a $26.75 target price on shares of Uranium Energy in a research report on Wednesday, September 30th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Uranium Energy presently has an average rating of “Moderate Buy” and an average target price of $16.75.

Uranium Energy Trading Down 9.0%

The stock has a 50 day moving average price of $9.55 and a two-hundred day moving average price of $12.40. The company has a market cap of $3.24 billion, a price-to-earnings ratio of -23.27 and a beta of 1.36.

Uranium Energy (NYSEAMERICAN:UEC) last released its earnings results on Tuesday, September 29th. The basic materials company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The business had revenue of $17.05 million during the quarter, compared to analysts’ expectations of $9.00 million. On average, equities analysts forecast that Uranium Energy Corp. will post -0.20 EPS for the current fiscal year.

Institutional Investors Weigh In On Uranium Energy

Hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its holdings in shares of Uranium Energy by 6.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 18,673 shares of the basic materials company’s stock valued at $199,000 after buying an additional 1,050 shares during the period. TD Waterhouse Canada Inc. raised its stake in Uranium Energy by 31.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,589 shares of the basic materials company’s stock worth $59,000 after buying an additional 1,333 shares during the period. CoreCap Advisors LLC raised its stake in Uranium Energy by 6.2% during the 2nd quarter. CoreCap Advisors LLC now owns 25,850 shares of the basic materials company’s stock worth $276,000 after buying an additional 1,500 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Uranium Energy by 4.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 36,372 shares of the basic materials company’s stock worth $340,000 after acquiring an additional 1,518 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in Uranium Energy by 12.9% in the third quarter. SBI Securities Co. Ltd. now owns 16,477 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 1,878 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company focused on developing and producing uranium in the United States. The company uses in-situ recovery (ISR) technology, which extracts uranium from underground deposits by circulating a solution through the orebody and processing the recovered materials into uranium concentrate, commonly known as yellowcake.

Uranium Energy’s U.S. assets include projects and processing infrastructure in South Texas and Wyoming. Its South Texas operations include the Hobson processing plant and nearby ISR projects, while its Wyoming portfolio includes the Christensen Ranch and other properties in the Powder River Basin.