Renaissance Technologies LLC Cuts Holdings in Westwater Resources, Inc. $WWR

Renaissance Technologies LLC reduced its position in shares of Westwater Resources, Inc. (NASDAQ:WWR) by 40.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,692,190 shares of the basic materials company’s stock after selling 1,144,700 shares during the quarter. Renaissance Technologies LLC owned 1.36% of Westwater Resources worth $1,107,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Pilgrim Partners Asia Pte Ltd acquired a new stake in Westwater Resources in the fourth quarter valued at approximately $50,000. Centiva Capital LP acquired a new position in shares of Westwater Resources during the 3rd quarter worth approximately $64,000. Evernest Financial Advisors LLC lifted its holdings in Westwater Resources by 200.0% during the first quarter. Evernest Financial Advisors LLC now owns 120,000 shares of the basic materials company’s stock valued at $79,000 after purchasing an additional 80,000 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of Westwater Resources in the fourth quarter worth approximately $89,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Westwater Resources in the fourth quarter worth approximately $154,000. Hedge funds and other institutional investors own 7.72% of the company’s stock.

Insider Activity

In other news, Director Karli S. Anderson sold 50,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $0.76, for a total value of $38,000.00. Following the completion of the sale, the director owned 790,909 shares of the company’s stock, valued at $601,090.84. This represents a 5.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tracy D. Pagliara sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $0.57, for a total transaction of $28,500.00. Following the sale, the director owned 873,888 shares of the company’s stock, valued at $498,116.16. This represents a 5.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 198,000 shares of company stock worth $126,200 over the last quarter. 4.90% of the stock is currently owned by company insiders.

Westwater Resources Trading Down 3.3%

Shares of WWR opened at $0.57 on Friday. Westwater Resources, Inc. has a 12-month low of $0.38 and a 12-month high of $3.75. The firm has a 50-day moving average price of $0.49 and a 200 day moving average price of $0.65. The firm has a market capitalization of $71.89 million, a P/E ratio of -4.35 and a beta of 1.62.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WWR shares. D. Boral Capital assumed coverage on shares of Westwater Resources in a research note on Thursday, June 11th. They issued a “buy” rating and a $3.00 price target on the stock. HC Wainwright dropped their price target on Westwater Resources from $1.75 to $1.50 and set a “buy” rating for the company in a research report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, Westwater Resources presently has a consensus rating of “Buy” and a consensus target price of $2.17.

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.