Centrus Energy (NYSE:LEU) Stock Falls 10.6% – Here’s What Happened

Centrus Energy Corp. (NYSE:LEU) traded down 10.6% during trading on Wednesday. The stock traded as low as $119.33 and last traded at $120.05. 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.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LEU shares. Stifel Nicolaus dropped their price objective on shares of Centrus Energy from $246.00 to $216.00 and set a “buy” rating for the company in a report on Tuesday, August 25th. Roth Capital reiterated a “neutral” rating and set a $188.00 target price on shares of Centrus Energy in a report on Thursday, August 6th. Needham & Company LLC reduced their target price on shares of Centrus Energy from $264.00 to $262.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings raised shares of Centrus Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Guggenheim started coverage on shares of Centrus Energy in a research note on Thursday, October 8th. They issued a “buy” rating and a $167.00 price target for the company. Two equities 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. Based on data from MarketBeat, Centrus Energy currently has a consensus rating of “Moderate Buy” and an average price target of $231.13.

Centrus Energy Trading Down 10.5%

The company has a current ratio of 5.39, a quick ratio of 4.52 and a debt-to-equity ratio of 1.39. The company has a market cap of $2.40 billion, a PE ratio of 54.57, a P/E/G ratio of 10.75 and a beta of 1.53. The company has a fifty day simple moving average of $164.67 and a two-hundred day simple moving average of $175.15.

Centrus Energy (NYSE:LEU) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.77 earnings per share (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 business had revenue of $176.10 million during the quarter. During the same quarter in the previous year, the business posted $1.59 EPS. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. Analysts anticipate that Centrus Energy Corp. will post 4.21 EPS for the current year.

Institutional Trading of Centrus Energy

Several hedge funds have recently added to or reduced their stakes in LEU. Western Wealth Management LLC purchased a new position in Centrus Energy in the first quarter worth approximately $31,000. Leonteq Securities AG acquired a new position in Centrus Energy during the 1st quarter worth approximately $35,000. IFP Advisors Inc grew its holdings in Centrus Energy by 172.4% during the 2nd quarter. IFP Advisors Inc now owns 237 shares of the company’s stock worth $40,000 after acquiring an additional 150 shares in the last quarter. Vestor Capital LLC purchased a new stake in shares of Centrus Energy in the 1st quarter valued at approximately $55,000. Finally, Parallel Advisors LLC increased its position in shares of Centrus Energy by 38.5% in the 1st quarter. Parallel Advisors LLC now owns 338 shares of the company’s stock valued at $59,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 49.96% of the company’s stock.

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.