Uranium Energy (NYSEAMERICAN:UEC) Shares Down 8.1% – Time to Sell?

Uranium Energy Corp. (NYSEAMERICAN:UEC) dropped 8.1% on Tuesday . The company traded as low as $12.40 and last traded at $12.1270. Approximately 1,323,229 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 9,896,203 shares. The stock had previously closed at $13.20.

Wall Street Analysts Forecast Growth

UEC has been the subject of a number of research analyst reports. TD Securities reduced their target price on Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. HC Wainwright increased their target price on Uranium Energy from $26.50 to $26.75 and gave the company a “buy” rating in a report on Wednesday, March 11th. Roth Mkm set a $17.00 target price on Uranium Energy in a report on Wednesday, March 11th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $18.00 target price on shares of Uranium Energy in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.66.

Uranium Energy Price Performance

The stock has a market cap of $5.89 billion, a price-to-earnings ratio of -100.13 and a beta of 1.17. The firm has a fifty day moving average of $14.07 and a 200 day moving average of $14.28.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings results on Tuesday, March 10th. The basic materials company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $20.20 million during the quarter, compared to analyst estimates of $12.85 million. Research analysts anticipate that Uranium Energy Corp. will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UEC. Ameritas Advisory Services LLC purchased a new position in Uranium Energy in the third quarter worth approximately $33,000. Sound Income Strategies LLC grew its position in Uranium Energy by 159.1% in the fourth quarter. Sound Income Strategies LLC now owns 3,094 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 1,900 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Uranium Energy in the fourth quarter worth approximately $39,000. PenderFund Capital Management Ltd. purchased a new position in Uranium Energy in the fourth quarter worth approximately $39,000. Finally, Strategic Advocates LLC purchased a new position in Uranium Energy in the third quarter worth approximately $40,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company’s core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy’s approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company’s primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.