NexGen Energy (NYSE:NXE) Shares Down 4.7% – Time to Sell?

NexGen Energy Ltd. (NYSE:NXE)’s stock price was down 4.7% during trading on Tuesday . The company traded as low as $4.92 and last traded at $4.93. Approximately 3,898,543 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 9,683,332 shares. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

NXE has been the topic of several research analyst reports. Stifel Nicolaus began coverage on NexGen Energy in a report on Wednesday, March 12th. They set a “buy” rating on the stock. Stifel Canada upgraded NexGen Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Strong Buy”.

NexGen Energy Stock Performance

The stock has a market cap of $2.75 billion, a P/E ratio of 32.17 and a beta of 1.97. The business’s 50-day moving average price is $5.81 and its 200-day moving average price is $6.73.

Institutional Trading of NexGen Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PKO Investment Management Joint Stock Co purchased a new position in shares of NexGen Energy during the 4th quarter valued at about $574,000. Mackenzie Financial Corp raised its stake in NexGen Energy by 15.5% during the 4th quarter. Mackenzie Financial Corp now owns 230,524 shares of the company’s stock worth $1,519,000 after acquiring an additional 31,002 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in NexGen Energy by 3.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 134,655 shares of the company’s stock valued at $888,000 after purchasing an additional 4,176 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of NexGen Energy by 38.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 623,857 shares of the company’s stock worth $4,117,000 after purchasing an additional 172,499 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of NexGen Energy by 100.3% in the fourth quarter. Tidal Investments LLC now owns 62,617 shares of the company’s stock worth $413,000 after purchasing an additional 31,362 shares in the last quarter. Hedge funds and other institutional investors own 42.43% of the company’s stock.

About NexGen Energy

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.