Uranium Energy (NYSEAMERICAN:UEC) Shares Up 9.4% – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares shot up 9.4% during trading on Thursday . The company traded as high as $7.41 and last traded at $7.32. 2,475,758 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 7,617,867 shares. The stock had previously closed at $6.69.

Analysts Set New Price Targets

Several research firms have issued reports on UEC. Roth Mkm restated a “buy” rating and set a $10.25 price objective (up from $9.75) on shares of Uranium Energy in a report on Wednesday, October 23rd. HC Wainwright upped their price target on shares of Uranium Energy from $10.25 to $11.00 and gave the company a “buy” rating in a report on Monday, December 9th.

Uranium Energy Trading Up 10.8 %

The firm has a market cap of $3.14 billion, a PE ratio of -61.75 and a beta of 1.84. The stock has a 50 day moving average price of $6.61.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Uranium Energy during the 2nd quarter worth about $26,000. Farther Finance Advisors LLC lifted its position in Uranium Energy by 5,130.4% in the third quarter. Farther Finance Advisors LLC now owns 4,812 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 4,720 shares during the period. Quintet Private Bank Europe S.A. bought a new position in Uranium Energy during the 3rd quarter valued at $33,000. BNP Paribas bought a new stake in shares of Uranium Energy in the 3rd quarter worth $38,000. Finally, National Bank of Canada FI lifted its holdings in shares of Uranium Energy by 29.7% in the third quarter. National Bank of Canada FI now owns 7,485 shares of the basic materials company’s stock valued at $46,000 after buying an additional 1,713 shares during the period. 62.28% of the stock is owned by institutional investors and hedge funds.

Uranium Energy Company Profile

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.