Centrus Energy (NYSE:LEU) Shares Down 10.6% – Here’s Why

Centrus Energy Corp. (NYSE:LEU)’s stock price traded down 10.6% on Wednesday. The stock traded as low as $119.33 and last traded at $120.05. Approximately 1,140,186 shares were traded during mid-day trading, an increase of 27% from the average daily volume of 901,226 shares. The stock had previously closed at $134.28.

Analysts Set New Price Targets

Several analysts have recently commented on LEU shares. UBS Group raised their price target on Centrus Energy from $170.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, August 19th. Weiss Ratings raised Centrus Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Guggenheim assumed coverage on Centrus Energy in a research report on Thursday, October 8th. They issued a “buy” rating and a $167.00 price objective for the company. Barclays began coverage on Centrus Energy in a report on Tuesday, August 18th. They issued an “equal weight” rating and a $207.00 target price for the company. Finally, Bank of America decreased their target price on shares of Centrus Energy from $240.00 to $205.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $231.13.

Centrus Energy Stock Down 2.2%

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 firm has a market cap of $2.48 billion, a PE ratio of 56.48, a P/E/G ratio of 9.53 and a beta of 1.53. The firm’s 50 day moving average is $162.29 and its 200-day moving average is $174.24.

Centrus Energy (NYSE:LEU) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.77 EPS 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 company had revenue of $176.10 million during the quarter. During the same quarter last year, the firm earned $1.59 EPS. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts expect that Centrus Energy Corp. will post 4.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in shares of Centrus Energy by 217.4% in the 1st quarter. Renaissance Technologies LLC now owns 160,542 shares of the company’s stock valued at $27,868,000 after acquiring an additional 109,960 shares during the period. SG Americas Securities LLC boosted its position in Centrus Energy by 1,033.3% during the 1st quarter. SG Americas Securities LLC now owns 42,521 shares of the company’s stock worth $7,381,000 after purchasing an additional 38,769 shares during the period. Rockefeller Capital Management L.P. boosted its position in Centrus Energy by 349.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 49,479 shares of the company’s stock worth $12,012,000 after purchasing an additional 38,472 shares during the period. Goehring & Rozencwajg Associates LLC boosted its position in shares of Centrus Energy by 18.1% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 202,058 shares of the company’s stock worth $35,075,000 after buying an additional 30,944 shares during the period. Finally, Atlas Wealth LLC purchased a new stake in shares of Centrus Energy in the first quarter worth about $4,376,000. 49.96% of the stock is owned by institutional investors and hedge funds.

About Centrus Energy

Centrus Energy Corp. is a U.S.-based nuclear fuel company that supplies enriched uranium and related services to commercial nuclear power producers and other customers. Its business includes the sale of low-enriched uranium (LEU), which is used to manufacture fuel for nuclear reactors, as well as uranium enrichment and fuel-management services.

The company is also developing high-assay low-enriched uranium (HALEU), an advanced nuclear fuel intended for certain next-generation reactors.