Uranium Energy (NYSEAMERICAN:UEC) Trading Down 6.7% - Time to Sell?

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) shares dropped 6.7% on Monday . The stock traded as low as $5.17 and last traded at $5.23. Approximately 2,022,477 shares traded hands during trading, a decline of 72% from the average daily volume of 7,262,573 shares. The stock had previously closed at $5.60.

Wall Street Analyst Weigh In

UEC has been the subject of several research reports. HC Wainwright boosted their price objective 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. National Bank Financial started coverage on shares of Uranium Energy in a report on Wednesday, February 12th. They set an "outperform" rating and a $10.00 price objective for the company. Finally, National Bankshares set a $10.00 target price on shares of Uranium Energy and gave the company an "outperform" rating in a research report on Wednesday, February 12th.

Uranium Energy Stock Down 3.4 %

The business's 50-day moving average is $6.86. The firm has a market cap of $2.15 billion, a P/E ratio of -42.33 and a beta of 1.88.

Hedge Funds Weigh In On Uranium Energy

A number of hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Uranium Energy by 1.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,230,344 shares of the basic materials company's stock worth $195,551,000 after purchasing an additional 423,233 shares during the period. Vanguard Group Inc. boosted its position in shares of Uranium Energy by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 25,862,079 shares of the basic materials company's stock worth $173,017,000 after purchasing an additional 631,929 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Uranium Energy by 45.9% during the fourth quarter. JPMorgan Chase & Co. now owns 15,842,713 shares of the basic materials company's stock worth $105,988,000 after acquiring an additional 4,982,949 shares during the last quarter. Norges Bank bought a new position in shares of Uranium Energy during the fourth quarter worth $100,773,000. Finally, Driehaus Capital Management LLC boosted its position in shares of Uranium Energy by 52.2% during the fourth quarter. Driehaus Capital Management LLC now owns 9,499,842 shares of the basic materials company's stock worth $63,554,000 after acquiring an additional 3,259,704 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors.

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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.