Uranium Energy (NYSEAMERICAN:UEC) Stock Price Down 4.9% – Time to Sell?

Uranium Energy Corp. (NYSEAMERICAN:UEC) dropped 4.9% on Wednesday . The company traded as low as $8.17 and last traded at $8.18. Approximately 4,434,364 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 7,643,086 shares. The stock had previously closed at $8.60.

Wall Street Analyst Weigh In

A number of analysts have commented on UEC shares. HC Wainwright reiterated a “buy” rating and issued a $10.25 price target on shares of Uranium Energy in a research note on Tuesday, September 24th. Roth Mkm reiterated a “buy” rating and set a $10.25 price target (up from $9.75) on shares of Uranium Energy in a report on Wednesday, October 23rd.

Uranium Energy Price Performance

The firm has a 50 day moving average price of $6.44. The firm has a market cap of $3.35 billion, a P/E ratio of -143.31 and a beta of 1.82.

Uranium Energy (NYSEAMERICAN:UEC) last issued its earnings results on Thursday, September 26th. The basic materials company reported ($0.03) earnings per share for the quarter. As a group, analysts anticipate that Uranium Energy Corp. will post 0.09 EPS for the current fiscal year.

Insider Transactions at Uranium Energy

In related news, CEO Amir Adnani acquired 60,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $4.10 per share, with a total value of $246,000.00. Following the completion of the transaction, the chief executive officer now owns 4,242,326 shares of the company’s stock, valued at $17,393,536.60. The trade was a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Melbye purchased 9,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $4.18 per share, for a total transaction of $39,710.00. Following the completion of the purchase, the executive vice president now directly owns 988,031 shares in the company, valued at $4,129,969.58. This represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Uranium Energy

Several large investors have recently added to or reduced their stakes in UEC. Geode Capital Management LLC increased its stake in Uranium Energy by 1.8% during the third quarter. Geode Capital Management LLC now owns 9,083,449 shares of the basic materials company’s stock valued at $56,419,000 after purchasing an additional 159,921 shares during the last quarter. Segra Capital Management LLC lifted its holdings in shares of Uranium Energy by 81.0% during the 3rd quarter. Segra Capital Management LLC now owns 4,036,529 shares of the basic materials company’s stock valued at $24,926,000 after buying an additional 1,806,529 shares during the last quarter. Barclays PLC lifted its holdings in Uranium Energy by 394.5% in the 3rd quarter. Barclays PLC now owns 697,045 shares of the basic materials company’s stock worth $4,329,000 after purchasing an additional 556,081 shares during the last quarter. National Bank of Canada FI lifted its position in Uranium Energy by 29.7% during the 3rd quarter. National Bank of Canada FI now owns 7,485 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 1,713 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Uranium Energy during the 3rd quarter valued at $4,512,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

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.