Uranium Energy (NYSEAMERICAN:UEC) Stock Price Down 5.4% – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s stock price was down 5.4% during trading on Friday . The stock traded as low as $12.69 and last traded at $12.88. Approximately 1,738,255 shares traded hands during trading, a decline of 82% from the average session volume of 9,777,526 shares. The stock had previously closed at $13.62.

Wall Street Analyst Weigh In

A number of analysts have weighed in on UEC shares. HC Wainwright reissued a “buy” rating on shares of Uranium Energy in a report on Wednesday. The Goldman Sachs Group restated a “buy” rating and set a $16.00 price objective on shares of Uranium Energy in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.41.

Uranium Energy Trading Down 8.7%

The company has a 50 day moving average of $10.73 and a 200 day moving average of $12.86. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of -103.67 and a beta of 1.22.

Uranium Energy (NYSEAMERICAN:UEC) last released its quarterly earnings data on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). As a group, sell-side analysts anticipate that Uranium Energy Corp. will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Uranium Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi grew its stake in Uranium Energy by 20.5% during the second quarter. Amundi now owns 85,367 shares of the basic materials company’s stock worth $910,000 after buying an additional 14,541 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Uranium Energy by 13.4% in the second quarter. HighTower Advisors LLC now owns 41,664 shares of the basic materials company’s stock valued at $444,000 after acquiring an additional 4,923 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Uranium Energy in the 2nd quarter worth approximately $829,000. California State Teachers Retirement System boosted its holdings in shares of Uranium Energy by 977.3% in the 2nd quarter. California State Teachers Retirement System now owns 6,039,029 shares of the basic materials company’s stock worth $64,376,000 after acquiring an additional 5,478,455 shares in the last quarter. Finally, Operose Advisors LLC grew its position in Uranium Energy by 100.0% during the 2nd quarter. Operose Advisors LLC now owns 8,000 shares of the basic materials company’s stock worth $85,000 after acquiring an additional 4,000 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company’s core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy’s approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company’s primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.