HC Wainwright Cuts Westwater Resources (NASDAQ:WWR) Price Target to $1.50

Westwater Resources (NASDAQ:WWR) had its target price decreased by HC Wainwright from $1.75 to $1.50 in a research report report published on Monday morning, Marketbeat reports. HC Wainwright currently has a buy rating on the basic materials company’s stock.

A number of other brokerages have also commented on WWR. Maxim Group started coverage on shares of Westwater Resources in a report on Wednesday, April 15th. They set a “buy” rating and a $2.00 price objective on the stock. D. Boral Capital began coverage on shares of Westwater Resources in a research note on Thursday, June 11th. They issued a “buy” rating and a $3.00 target price for the company. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Westwater Resources has an average rating of “Buy” and an average price target of $2.17.

Westwater Resources Stock Performance

Shares of WWR opened at $0.43 on Monday. The firm has a market cap of $54.14 million, a P/E ratio of -3.28 and a beta of 1.59. Westwater Resources has a twelve month low of $0.38 and a twelve month high of $3.75. The firm’s 50 day moving average price is $0.48 and its two-hundred day moving average price is $0.67.

Hedge Funds Weigh In On Westwater Resources

A number of large investors have recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd bought a new stake in Westwater Resources during the 4th quarter worth about $50,000. Centiva Capital LP bought a new position in shares of Westwater Resources in the 3rd quarter valued at about $64,000. Evernest Financial Advisors LLC increased its position in shares of Westwater Resources by 200.0% in the first quarter. Evernest Financial Advisors LLC now owns 120,000 shares of the basic materials company’s stock valued at $79,000 after acquiring an additional 80,000 shares during the last quarter. Alps Advisors Inc. acquired a new stake in shares of Westwater Resources in the fourth quarter valued at about $89,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Westwater Resources in the first quarter valued at about $87,000. Institutional investors and hedge funds own 7.72% of the company’s stock.

Westwater Resources Company Profile

Westwater Resources, Inc (NASDAQ: WWR) is a Houston‐based mineral development company focused on advancing sustainable sources of battery‐grade graphite for the lithium‐ion battery market. The company’s primary asset is the Coosa Graphite Project in east‐central Alabama, where Westwater is working to establish a fully integrated, U.S.‐based supply chain for natural spherical graphite. By leveraging in‐house purification and spheronization technology, Westwater aims to produce high‐purity graphite suitable for electric vehicle and stationary energy storage applications.

Originally founded as a diversified natural resources company, Westwater Resources has realigned its strategy toward critical battery minerals.