NexGen Energy (NYSE:NXE) Stock Price Down 4.5% - What's Next?

NexGen Energy Ltd. (NYSE:NXE - Get Free Report)'s share price dropped 4.5% on Friday . The company traded as low as $6.19 and last traded at $6.20. Approximately 1,612,963 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 8,023,677 shares. The stock had previously closed at $6.49.

NexGen Energy Stock Performance

The firm's 50-day moving average is $6.88 and its two-hundred day moving average is $6.87. The stock has a market cap of $3.50 billion, a P/E ratio of 41.04 and a beta of 1.94.

Hedge Funds Weigh In On NexGen Energy

Several hedge funds have recently added to or reduced their stakes in NXE. The Manufacturers Life Insurance Company lifted its position in NexGen Energy by 792.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company's stock valued at $46,434,000 after purchasing an additional 6,317,538 shares during the period. JPMorgan Chase & Co. raised its stake in shares of NexGen Energy by 222.6% during the fourth quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company's stock worth $41,882,000 after buying an additional 4,378,933 shares during the last quarter. Van ECK Associates Corp lifted its holdings in NexGen Energy by 79.7% in the fourth quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company's stock valued at $55,971,000 after buying an additional 3,762,756 shares during the period. Mountaineer Partners Management LLC boosted its stake in NexGen Energy by 536.6% in the third quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company's stock valued at $24,071,000 after acquiring an additional 3,107,214 shares during the last quarter. Finally, Segra Capital Management LLC grew its holdings in NexGen Energy by 19.8% during the 3rd quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company's stock worth $76,217,000 after acquiring an additional 1,931,200 shares during the period. Institutional investors own 42.43% of the company's stock.

NexGen Energy Company Profile

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.