Uranium Energy (NYSEAMERICAN:UEC) Stock Price Up 6.1% – Here’s What Happened

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s stock price rose 6.1% during mid-day trading on Friday . The company traded as high as $8.59 and last traded at $8.58. Approximately 1,250,042 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 7,649,573 shares. The stock had previously closed at $8.09.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $10.25 target price on shares of Uranium Energy in a research report on Tuesday, September 24th. Roth Mkm reissued a “buy” rating and set a $10.25 price objective (up from $9.75) on shares of Uranium Energy in a report on Wednesday, October 23rd.

Uranium Energy Stock Performance

The firm has a fifty day moving average price of $6.44. The firm has a market capitalization of $3.43 billion, a P/E ratio of -142.81 and a beta of 1.82.

Uranium Energy (NYSEAMERICAN:UEC) last issued its quarterly earnings results on Thursday, September 26th. The basic materials company reported ($0.03) EPS for the quarter. As a group, sell-side analysts expect that Uranium Energy Corp. will post 0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Scott Melbye acquired 9,500 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $4.18 per share, for a total transaction of $39,710.00. Following the completion of the transaction, the executive vice president now owns 988,031 shares of the company’s stock, valued at $4,129,969.58. This trade represents a 0.97 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amir Adnani purchased 60,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $4.10 per share, with a total value of $246,000.00. Following the transaction, the chief executive officer now directly owns 4,242,326 shares in the company, valued at $17,393,536.60. This trade represents a 1.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.40% of the stock is owned by insiders.

Institutional Trading of Uranium Energy

A number of hedge funds have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL purchased a new position in Uranium Energy in the 2nd quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its holdings in shares of Uranium Energy by 5,130.4% during the third quarter. Farther Finance Advisors LLC now owns 4,812 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 4,720 shares in the last quarter. Quintet Private Bank Europe S.A. purchased a new stake in shares of Uranium Energy during the third quarter valued at $33,000. BNP Paribas purchased a new stake in shares of Uranium Energy during the third quarter valued at $38,000. Finally, National Bank of Canada FI increased its holdings in Uranium Energy by 29.7% in the 3rd quarter. National Bank of Canada FI now owns 7,485 shares of the basic materials company’s stock worth $46,000 after buying an additional 1,713 shares in the last quarter. 62.28% of the stock is owned by institutional investors.

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.