Uranium Energy (NYSEAMERICAN:UEC) Shares Down 4.2% – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares fell 4.2% on Monday . The company traded as low as $7.95 and last traded at $7.96. Approximately 1,990,172 shares traded hands during trading, a decline of 74% from the average session volume of 7,638,330 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

UEC has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $10.25 price objective on shares of Uranium Energy in a research report on Tuesday, September 24th. Roth Mkm reaffirmed a “buy” rating and set a $10.25 price target (up from $9.75) on shares of Uranium Energy in a research report on Wednesday, October 23rd.

Uranium Energy Stock Performance

The business has a fifty day moving average price of $6.44. The company has a market cap of $3.30 billion, a price-to-earnings ratio of -138.31 and a beta of 1.82.

Uranium Energy (NYSEAMERICAN:UEC) last posted its earnings results on Thursday, September 26th. The basic materials company reported ($0.03) earnings per share for the quarter. Analysts forecast that Uranium Energy Corp. will post 0.09 earnings per share for the current fiscal year.

Insider Transactions at Uranium Energy

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

Institutional Trading of Uranium Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Uranium Energy during the third quarter valued at approximately $12,643,000. Van ECK Associates Corp grew its position in shares of Uranium Energy by 78.0% in the 3rd quarter. Van ECK Associates Corp now owns 4,956,971 shares of the basic materials company’s stock worth $30,783,000 after buying an additional 2,171,468 shares during the period. Riggs Asset Managment Co. Inc. bought a new stake in Uranium Energy during the third quarter worth about $501,000. Intech Investment Management LLC purchased a new stake in Uranium Energy in the third quarter worth about $600,000. Finally, Riverwater Partners LLC purchased a new position in shares of Uranium Energy during the third quarter valued at approximately $2,341,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

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.