Uranium Energy (NYSEAMERICAN:UEC) Stock Price Down 7.2% – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC) fell 7.2% during trading on Friday . The stock traded as low as $6.58 and last traded at $6.48. 5,497,004 shares were traded during trading, a decline of 19% from the average session volume of 6,813,650 shares. The stock had previously closed at $6.98.

Wall Street Analyst Weigh In

Several brokerages have commented on UEC. Roth Mkm restated a “buy” rating and set a $10.25 target price (up from $9.75) on shares of Uranium Energy in a research report on Wednesday, October 23rd. National Bankshares set a $10.00 target price on shares of Uranium Energy and gave the stock an “outperform” rating in a research report on Wednesday. National Bank Financial began coverage on shares of Uranium Energy in a research report on Wednesday. They set an “outperform” rating and a $10.00 target price on the stock. Finally, HC Wainwright boosted their target price on shares of Uranium Energy from $10.25 to $11.00 and gave the stock a “buy” rating in a research report on Monday, December 9th.

Uranium Energy Stock Down 8.5 %

The company has a 50 day simple moving average of $6.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UEC. Harbour Investments Inc. raised its stake in Uranium Energy by 947.4% in the 4th quarter. Harbour Investments Inc. now owns 3,886 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 3,515 shares during the last quarter. GAMMA Investing LLC raised its stake in Uranium Energy by 180.1% in the 4th quarter. GAMMA Investing LLC now owns 4,338 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 2,789 shares during the last quarter. Generali Investments Management Co LLC acquired a new position in Uranium Energy in the 4th quarter valued at about $30,000. Farther Finance Advisors LLC raised its stake in Uranium Energy by 5,130.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,812 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 4,720 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. acquired a new position in Uranium Energy in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Uranium Energy Company Profile

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.