StockNews.com Initiates Coverage on Westwater Resources (NASDAQ:WWR)

StockNews.com initiated coverage on shares of Westwater Resources (NASDAQ:WWR) in a research note issued to investors on Wednesday morning. The firm issued a sell rating on the basic materials company’s stock.

Westwater Resources Stock Performance

NASDAQ:WWR opened at $0.81 on Wednesday. Westwater Resources has a 1 year low of $0.40 and a 1 year high of $0.92. The stock has a 50-day simple moving average of $0.60 and a 200-day simple moving average of $0.54. The stock has a market cap of $50.63 million, a P/E ratio of -6.23 and a beta of 1.57.

Insider Buying and Selling

In related news, Director Terence James Cryan bought 50,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $0.54 per share, with a total value of $27,000.00. Following the completion of the acquisition, the director now owns 446,443 shares in the company, valued at approximately $241,079.22. This trade represents a 12.61 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Westwater Resources

A hedge fund recently raised its stake in Westwater Resources stock. Geode Capital Management LLC lifted its stake in shares of Westwater Resources, Inc. (NASDAQ:WWR) by 9.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 520,958 shares of the basic materials company’s stock after purchasing an additional 44,267 shares during the quarter. Geode Capital Management LLC owned about 0.88% of Westwater Resources worth $269,000 at the end of the most recent quarter. Institutional investors own 7.72% of the company’s stock.

Westwater Resources Company Profile

Westwater Resources, Inc operates as an energy technology company, focuses on developing battery-grade natural graphite materials. The company holds interests in Kellyton Graphite Plant located in Kellyton, Alabama; and Bama Mine Project situated in south Alabama. It holds interests in Coosa graphite project located in Coosa County, Alabama.