Westwater Resources (NASDAQ:WWR) Coverage Initiated at HC Wainwright

Analysts at HC Wainwright assumed coverage on shares of Westwater Resources (NASDAQ:WWR) in a research note issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $2.50 price target on the basic materials company’s stock. HC Wainwright’s price target suggests a potential upside of 341.31% from the company’s current price.

Separately, StockNews.com started coverage on shares of Westwater Resources in a research report on Wednesday, January 1st. They issued a “sell” rating on the stock.

Westwater Resources Trading Down 9.5 %

NASDAQ WWR opened at $0.57 on Tuesday. The business’s 50-day moving average price is $0.84 and its 200 day moving average price is $0.65. Westwater Resources has a twelve month low of $0.40 and a twelve month high of $1.32. The company has a market capitalization of $35.41 million, a PE ratio of -4.36 and a beta of 1.61.

Insider Transactions at Westwater Resources

In other news, Director Terence James Cryan bought 50,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $0.54 per share, for a total transaction of $27,000.00. Following the acquisition, the director now owns 446,443 shares of the company’s stock, valued at $241,079.22. This trade represents a 12.61 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WWR. Virtu Financial LLC purchased a new position in shares of Westwater Resources in the 3rd quarter valued at $34,000. Jane Street Group LLC raised its position in Westwater Resources by 165.3% in the fourth quarter. Jane Street Group LLC now owns 56,249 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 35,046 shares during the period. Renaissance Technologies LLC raised its position in Westwater Resources by 536.3% in the fourth quarter. Renaissance Technologies LLC now owns 99,201 shares of the basic materials company’s stock valued at $70,000 after purchasing an additional 83,611 shares during the period. Northern Trust Corp lifted its stake in shares of Westwater Resources by 34.7% during the fourth quarter. Northern Trust Corp now owns 127,960 shares of the basic materials company’s stock worth $91,000 after purchasing an additional 32,952 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Westwater Resources by 30.4% in the fourth quarter. Squarepoint Ops LLC now owns 177,965 shares of the basic materials company’s stock worth $126,000 after buying an additional 41,515 shares during the period. 7.72% of the stock is owned by institutional investors and hedge funds.

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.