HC Wainwright Lowers Westwater Resources (NASDAQ:WWR) Price Target to $2.00

Westwater Resources (NASDAQ:WWR) had its target price cut by research analysts at HC Wainwright from $2.50 to $2.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price target indicates a potential upside of 240.72% from the stock’s current price.

Separately, Wall Street Zen began coverage on Westwater Resources in a report on Wednesday, May 21st. They issued a “sell” rating for the company.

Westwater Resources Stock Down 4.4%

Westwater Resources stock opened at $0.59 on Thursday. Westwater Resources has a 12-month low of $0.45 and a 12-month high of $1.32. The stock has a 50-day simple moving average of $0.51 and a 200 day simple moving average of $0.65. The stock has a market capitalization of $44.85 million, a price-to-earnings ratio of -4.52 and a beta of 1.06.

Institutional Trading of Westwater Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC raised its stake in shares of Westwater Resources by 29.1% during the 4th quarter. Virtu Financial LLC now owns 85,116 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 19,211 shares in the last quarter. Geode Capital Management LLC lifted its stake in Westwater Resources by 16.7% in the fourth quarter. Geode Capital Management LLC now owns 608,045 shares of the basic materials company’s stock valued at $431,000 after acquiring an additional 87,087 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Westwater Resources by 536.3% during the 4th quarter. Renaissance Technologies LLC now owns 99,201 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 83,611 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Westwater Resources by 34.7% in the 4th quarter. Northern Trust Corp now owns 127,960 shares of the basic materials company’s stock valued at $91,000 after purchasing an additional 32,952 shares during the period. Finally, Jane Street Group LLC lifted its stake in Westwater Resources by 165.3% in the 4th 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 last quarter. Institutional investors and hedge funds own 7.72% of the company’s stock.

About Westwater Resources

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.