Centrus Energy (NYSE:LEU) Shares Up 8.9% – Here’s Why

Centrus Energy Corp. (NYSE:LEU) rose 8.9% during mid-day trading on Tuesday . The company traded as high as $193.59 and last traded at $192.8320. 362,582 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 929,803 shares. The stock had previously closed at $177.14.

Wall Street Analysts Forecast Growth

Several research firms have commented on LEU. Bank of America dropped their price objective on shares of Centrus Energy from $240.00 to $205.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Zacks Research raised Centrus Energy from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. UBS Group boosted their target price on Centrus Energy from $170.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Truist Financial assumed coverage on Centrus Energy in a report on Monday, July 13th. They set a “buy” rating and a $215.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Centrus Energy in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.00.

Centrus Energy Stock Up 8.9%

The company has a quick ratio of 4.52, a current ratio of 5.39 and a debt-to-equity ratio of 1.39. The company has a 50 day simple moving average of $173.86 and a two-hundred day simple moving average of $188.67. The company has a market capitalization of $3.85 billion, a P/E ratio of 87.40, a PEG ratio of 23.95 and a beta of 1.36.

Centrus Energy (NYSE:LEU) last released its earnings results on Wednesday, August 5th. The company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $1.03. Centrus Energy had a return on equity of 7.06% and a net margin of 10.23%.The firm had revenue of $176.10 million for the quarter. During the same period in the prior year, the firm posted $1.59 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities analysts predict that Centrus Energy Corp. will post 2.6 EPS for the current year.

Institutional Investors Weigh In On Centrus Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Centrus Energy by 16,538.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 101,326 shares of the company’s stock worth $24,598,000 after purchasing an additional 100,717 shares during the last quarter. AlphaStar Capital Management LLC bought a new position in shares of Centrus Energy during the fourth quarter valued at approximately $4,473,000. Vanguard Group Inc. raised its holdings in shares of Centrus Energy by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 1,086,443 shares of the company’s stock worth $263,745,000 after buying an additional 14,325 shares during the period. Next Century Growth Investors LLC raised its holdings in shares of Centrus Energy by 56.2% in the fourth quarter. Next Century Growth Investors LLC now owns 33,462 shares of the company’s stock worth $8,123,000 after buying an additional 12,037 shares during the period. Finally, Pier Capital LLC lifted its stake in shares of Centrus Energy by 165.5% during the 4th quarter. Pier Capital LLC now owns 14,036 shares of the company’s stock worth $3,407,000 after acquiring an additional 8,749 shares during the last quarter. Hedge funds and other institutional investors own 49.96% of the company’s stock.

About Centrus Energy

Centrus Energy Corp is a U.S.-based supplier of nuclear fuel and enrichment services, specializing in the production of low-enriched uranium (LEU) for commercial power reactors and highly enriched uranium for naval propulsion. Through its Centrus Global subsidiary, the company provides technical support, fuel fabrication services and recycled uranium products to utilities operating light-water reactors. Centrus also develops advanced centrifuge technologies aimed at improving enrichment efficiency and reducing the cost of nuclear fuel.

Originally founded as the United States Enrichment Corporation (USEC) in 1998 following a spin-out from the U.S.