Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Down – Time to Sell?

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares gapped down prior to trading on Tuesday . The stock had previously closed at $12.24, but opened at $11.60. Uranium Energy shares last traded at $11.7540, with a volume of 1,283,444 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on UEC. The Goldman Sachs Group reaffirmed a “buy” rating and set a $16.00 price target on shares of Uranium Energy in a research note on Tuesday, June 9th. HC Wainwright reissued a “buy” rating on shares of Uranium Energy in a research note on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.41.

Uranium Energy Stock Up 0.3%

The stock has a market capitalization of $5.75 billion, a P/E ratio of -96.83 and a beta of 1.23. The business’s 50 day simple moving average is $10.78 and its two-hundred day simple moving average is $12.74.

Uranium Energy (NYSEAMERICAN:UEC) last posted its earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Analysts predict that Uranium Energy Corp. will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in Uranium Energy by 11.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 66,352,123 shares of the basic materials company’s stock worth $774,995,000 after buying an additional 7,013,279 shares in the last quarter. BlackRock Inc. bought a new position in Uranium Energy during the 2nd quarter valued at $432,676,000. Van ECK Associates Corp boosted its holdings in Uranium Energy by 21.8% during the 2nd quarter. Van ECK Associates Corp now owns 29,034,465 shares of the basic materials company’s stock worth $309,507,000 after acquiring an additional 5,191,738 shares during the last quarter. State Street Corp boosted its holdings in Uranium Energy by 9.5% during the 2nd quarter. State Street Corp now owns 23,046,686 shares of the basic materials company’s stock worth $156,717,000 after acquiring an additional 2,000,516 shares during the last quarter. Finally, Alps Advisors Inc. grew its stake in shares of Uranium Energy by 16.3% in the 4th quarter. Alps Advisors Inc. now owns 17,462,284 shares of the basic materials company’s stock worth $203,959,000 after acquiring an additional 2,453,744 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company’s core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy’s approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company’s primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.