Uranium Energy (NYSEAMERICAN:UEC) Stock Price Up 6.1% - Here's Why

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s share price was up 6.1% on Friday . The stock traded as high as $8.59 and last traded at $8.58. Approximately 1,250,042 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 7,649,573 shares. The stock had previously closed at $8.09.

Analysts Set New Price Targets

A number of research firms recently issued reports on UEC. HC Wainwright reissued a "buy" rating and set a $10.25 price objective on shares of Uranium Energy in a research report on Tuesday, September 24th. Roth Mkm reaffirmed a "buy" rating and set a $10.25 price target (up from $9.75) on shares of Uranium Energy in a research note on Wednesday, October 23rd.

Uranium Energy Stock Performance

The business's 50 day moving average is $6.44. The firm has a market cap of $3.42 billion, a PE ratio of -138.48 and a beta of 1.82.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last posted its quarterly earnings results on Thursday, September 26th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter. As a group, equities analysts predict that Uranium Energy Corp. will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Scott Melbye purchased 9,500 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $4.18 per share, with a total value of $39,710.00. Following the purchase, the executive vice president now directly owns 988,031 shares in the company, valued at $4,129,969.58. This represents a 0.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Amir Adnani purchased 60,000 shares of the stock in a transaction on Friday, September 6th. The stock was bought at an average price of $4.10 per share, for a total transaction of $246,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,242,326 shares of the company's stock, valued at approximately $17,393,536.60. This trade represents a 1.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.40% of the stock is owned by company insiders.

Institutional Trading of Uranium Energy

Several hedge funds have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in Uranium Energy during the 2nd quarter worth about $26,000. Farther Finance Advisors LLC lifted its position in shares of Uranium Energy by 5,130.4% during 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 in the last quarter. Quintet Private Bank Europe S.A. bought a new stake in shares of Uranium Energy during the third quarter valued at approximately $33,000. BNP Paribas acquired a new stake in shares of Uranium Energy in the third quarter valued at approximately $38,000. Finally, National Bank of Canada FI raised its position in Uranium Energy by 29.7% in the 3rd quarter. National Bank of Canada FI now owns 7,485 shares of the basic materials company's stock worth $46,000 after purchasing an additional 1,713 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

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.