NexGen Energy (NYSE:NXE) Sees Unusually-High Trading Volume – Here’s Why

NexGen Energy (NYSE:NXE) saw unusually-high trading volume on Friday . Approximately 18,648,503 shares were traded during mid-day trading, an increase of 99% from the previous session’s volume of 9,377,559 shares.The stock last traded at $10.6810 and had previously closed at $11.08.

Analysts Set New Price Targets

NXE has been the topic of several recent research reports. Raymond James Financial reissued an “outperform” rating on shares of NexGen Energy in a research report on Wednesday, January 14th. Zacks Research upgraded shares of NexGen Energy from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of NexGen Energy in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

NexGen Energy Trading Down 0.3%

The stock has a market cap of $7.29 billion, a price-to-earnings ratio of -26.94 and a beta of 1.44. The company’s fifty day moving average is $10.47 and its two-hundred day moving average is $8.89.

NexGen Energy (NYSE:NXE) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Analysts predict that NexGen Energy will post -0.05 EPS for the current year.

Institutional Trading of NexGen Energy

Several hedge funds have recently made changes to their positions in NXE. Versant Capital Management Inc boosted its stake in shares of NexGen Energy by 287,500.0% in the third quarter. Versant Capital Management Inc now owns 2,876 shares of the company’s stock valued at $26,000 after purchasing an additional 2,875 shares during the period. CWM LLC acquired a new position in shares of NexGen Energy in the third quarter worth $41,000. Canton Hathaway LLC purchased a new stake in shares of NexGen Energy during the second quarter worth $57,000. Olympiad Research LP acquired a new stake in shares of NexGen Energy in the second quarter valued at $73,000. Finally, SBI Securities Co. Ltd. boosted its holdings in NexGen Energy by 454.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company’s stock valued at $73,000 after purchasing an additional 6,528 shares during the period. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.