Uranium Energy Target of Unusually Large Options Trading (NYSEAMERICAN:UEC)

Uranium Energy Corp. (NYSEAMERICAN:UEC) saw unusually large options trading activity on Wednesday. Traders bought 14,728 call options on the company. This is an increase of approximately 57% compared to the average volume of 9,368 call options.

Hedge Funds Weigh In On Uranium Energy

A number of large investors have recently modified their holdings of UEC. Norges Bank purchased a new position in shares of Uranium Energy in the fourth quarter worth $100,773,000. JPMorgan Chase & Co. raised its stake in shares of Uranium Energy by 45.9% during the fourth quarter. JPMorgan Chase & Co. now owns 15,842,713 shares of the basic materials company’s stock valued at $105,988,000 after acquiring an additional 4,982,949 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Uranium Energy by 239.4% during the fourth quarter. Ameriprise Financial Inc. now owns 6,731,148 shares of the basic materials company’s stock worth $45,036,000 after purchasing an additional 4,748,138 shares during the period. Driehaus Capital Management LLC grew its stake in shares of Uranium Energy by 52.2% in the fourth quarter. Driehaus Capital Management LLC now owns 9,499,842 shares of the basic materials company’s stock worth $63,554,000 after purchasing an additional 3,259,704 shares during the last quarter. Finally, Emerald Advisers LLC purchased a new position in Uranium Energy during the 4th quarter valued at about $11,114,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Uranium Energy Price Performance

UEC stock traded up $0.34 during midday trading on Wednesday, reaching $4.95. The company had a trading volume of 7,128,530 shares, compared to its average volume of 7,656,776. The firm has a 50-day moving average price of $5.48 and a 200-day moving average price of $6.59. The company has a market capitalization of $2.09 billion, a P/E ratio of -41.25 and a beta of 1.88. Uranium Energy has a 1 year low of $3.85 and a 1 year high of $8.93.

Analysts Set New Price Targets

Several research firms have commented on UEC. Stifel Canada raised shares of Uranium Energy to a “strong-buy” rating in a report on Tuesday, March 11th. HC Wainwright reaffirmed a “buy” rating and issued a $12.25 price objective on shares of Uranium Energy in a report on Thursday, March 13th. National Bankshares set a $10.00 target price on shares of Uranium Energy and gave the company an “outperform” rating in a report on Wednesday, February 12th. Stifel Nicolaus set a $10.50 price target on Uranium Energy in a report on Wednesday, March 12th. Finally, National Bank Financial initiated coverage on Uranium Energy in a research note on Wednesday, February 12th. They set an “outperform” rating and a $10.00 price objective on the stock. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $10.60.

About Uranium Energy

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.