NexGen Energy Target of Unusually Large Options Trading (NYSE:NXE)

NexGen Energy (NYSE:NXE) was the target of some unusual options trading activity on Friday. Stock traders acquired 15,306 put options on the company. This represents an increase of approximately 107% compared to the average volume of 7,411 put options.

NexGen Energy Price Performance

Shares of NXE stock traded up $0.40 during trading on Friday, reaching $10.63. The company had a trading volume of 1,483,584 shares, compared to its average volume of 7,038,850. The firm’s 50 day simple moving average is $9.85 and its two-hundred day simple moving average is $11.23. NexGen Energy has a one year low of $6.26 and a one year high of $13.96. The company has a market capitalization of $7.12 billion, a PE ratio of -26.58 and a beta of 1.40.

Analyst Upgrades and Downgrades

NXE has been the subject of several analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NexGen Energy has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On NexGen Energy

A number of institutional investors have recently modified their holdings of NXE. New Harbor Financial Group LLC increased its stake in NexGen Energy by 4.3% in the fourth quarter. New Harbor Financial Group LLC now owns 24,500 shares of the company’s stock valued at $225,000 after purchasing an additional 1,000 shares in the last quarter. Legacy Capital Group California Inc. boosted its position in shares of NexGen Energy by 1.3% during the fourth quarter. Legacy Capital Group California Inc. now owns 86,250 shares of the company’s stock worth $794,000 after purchasing an additional 1,093 shares in the last quarter. Leonteq Securities AG grew its holdings in shares of NexGen Energy by 88.2% in the 1st quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock valued at $28,000 after buying an additional 1,098 shares during the period. Tidal Investments LLC grew its holdings in shares of NexGen Energy by 6.9% in the 2nd quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock valued at $194,000 after buying an additional 1,817 shares during the period. Finally, Osaic Holdings Inc. increased its position in shares of NexGen Energy by 5.7% in the 2nd quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock valued at $243,000 after buying an additional 1,904 shares in the last quarter. Institutional investors own 42.43% of the company’s stock.

About NexGen Energy

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.