Uranium Energy (NYSEAMERICAN:UEC) Trading Up 7.5% – Here’s What Happened

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares traded up 7.5% during trading on Friday . The stock traded as high as $7.95 and last traded at $7.91. 2,897,382 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 7,512,712 shares. The stock had previously closed at $7.36.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UEC. HC Wainwright reiterated a “buy” rating and issued a $10.25 target price on shares of Uranium Energy in a report on Tuesday, September 24th. Roth Mkm reaffirmed 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 business’s 50-day moving average is $6.44. The company has a market capitalization of $3.06 billion, a P/E ratio of -127.65 and a beta of 1.82.

Uranium Energy (NYSEAMERICAN:UEC) last announced its quarterly earnings results on Thursday, September 26th. The basic materials company reported ($0.03) earnings per share for the quarter. Analysts predict that Uranium Energy Corp. will post 0.09 EPS for the current fiscal year.

Insider Activity at Uranium Energy

In related news, EVP Scott Melbye bought 9,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $4.18 per share, with a total value of $39,710.00. Following the completion of the purchase, the executive vice president now owns 988,031 shares of the company’s stock, valued at approximately $4,129,969.58. The trade was a 0.97 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amir Adnani purchased 60,000 shares of the company’s stock in a transaction that occurred 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 completion of the purchase, the chief executive officer now owns 4,242,326 shares of the company’s stock, valued at $17,393,536.60. The trade was a 1.43 % increase in their position. 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 large investors have recently made changes to their positions in UEC. Janney Montgomery Scott LLC purchased a new position in shares of Uranium Energy during the first quarter valued at $75,000. Empowered Funds LLC purchased a new stake in Uranium Energy during the first quarter worth $116,000. SG Americas Securities LLC boosted its position in Uranium Energy by 40.5% during the 1st quarter. SG Americas Securities LLC now owns 93,638 shares of the basic materials company’s stock valued at $632,000 after acquiring an additional 26,976 shares in the last quarter. Swiss National Bank raised its position in shares of Uranium Energy by 2.0% in the 1st quarter. Swiss National Bank now owns 737,200 shares of the basic materials company’s stock worth $4,976,000 after acquiring an additional 14,800 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Uranium Energy in the first quarter valued at about $92,000. 62.28% of the stock is owned by hedge funds and other 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.