NexGen Energy Ltd. (NYSE:NXE) Short Interest Update

NexGen Energy Ltd. (NYSE:NXE) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 77,450,000 shares, a growth of 25.0% from the March 15th total of 61,960,000 shares. Based on an average daily trading volume, of 9,980,000 shares, the short-interest ratio is presently 7.8 days. Approximately 14.4% of the company’s shares are sold short.

Institutional Trading of NexGen Energy

A number of hedge funds have recently bought and sold shares of NXE. PNC Financial Services Group Inc. boosted its position in shares of NexGen Energy by 284.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company’s stock worth $33,000 after purchasing an additional 3,700 shares during the period. Altshuler Shaham Ltd purchased a new stake in NexGen Energy in the 4th quarter worth $51,000. Mariner LLC bought a new stake in NexGen Energy during the fourth quarter valued at about $68,000. Silver Lake Advisory LLC purchased a new position in shares of NexGen Energy in the fourth quarter valued at about $73,000. Finally, Aptus Capital Advisors LLC bought a new position in shares of NexGen Energy in the fourth quarter worth about $79,000. Hedge funds and other institutional investors own 42.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Raymond James reissued an “outperform” rating on shares of NexGen Energy in a research report on Friday, April 4th. Stifel Canada upgraded NexGen Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, Stifel Nicolaus assumed coverage on NexGen Energy in a research note on Wednesday, March 12th. They set a “buy” rating for the company. Three research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

NexGen Energy Trading Down 5.3 %

NXE stock traded down $0.25 during midday trading on Monday, hitting $4.49. The company’s stock had a trading volume of 5,961,051 shares, compared to its average volume of 6,886,964. The firm’s 50-day moving average is $4.97 and its 200-day moving average is $6.51. NexGen Energy has a 12 month low of $3.91 and a 12 month high of $8.96. The company has a market cap of $2.56 billion, a PE ratio of 29.94 and a beta of 2.02.

About NexGen Energy

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.