Uranium Energy (NYSEAMERICAN:UEC) Trading 5.8% Higher – Time to Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares rose 5.8% during mid-day trading on Wednesday . The stock traded as high as $6.34 and last traded at $6.55. Approximately 1,521,461 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 9,777,588 shares. The stock had previously closed at $6.19.

Analyst Upgrades and Downgrades

UEC has been the subject of several recent research reports. Stifel Nicolaus set a $10.50 price objective on Uranium Energy in a research report on Wednesday, March 12th. HC Wainwright restated a “buy” rating and issued a $12.25 target price on shares of Uranium Energy in a research note on Thursday, March 13th. BMO Capital Markets started coverage on shares of Uranium Energy in a research note on Tuesday, June 3rd. They set an “outperform” rating and a $7.75 price target for the company. Finally, Stifel Canada upgraded shares of Uranium Energy to a “strong-buy” rating in a report on Tuesday, March 11th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Uranium Energy has an average rating of “Buy” and a consensus price target of $10.13.

Uranium Energy Stock Down 0.8%

The stock has a market capitalization of $2.64 billion, a P/E ratio of -51.92 and a beta of 1.88. The stock has a 50 day simple moving average of $5.44 and a two-hundred day simple moving average of $6.51.

Institutional Trading of Uranium Energy

A number of large investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in shares of Uranium Energy by 7.7% during the 4th quarter. US Bancorp DE now owns 22,300 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 1,600 shares during the last quarter. Arizona State Retirement System boosted its position in Uranium Energy by 1.4% during the fourth quarter. Arizona State Retirement System now owns 119,397 shares of the basic materials company’s stock worth $799,000 after purchasing an additional 1,692 shares during the period. Sei Investments Co. boosted its position in Uranium Energy by 9.7% during the fourth quarter. Sei Investments Co. now owns 19,381 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 1,710 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Uranium Energy by 43.5% in the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 2,364 shares during the last quarter. Finally, Xponance Inc. raised its position in shares of Uranium Energy by 7.7% in the first quarter. Xponance Inc. now owns 33,240 shares of the basic materials company’s stock valued at $159,000 after purchasing an additional 2,385 shares during the period. 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.