Westwater Resources (NASDAQ:WWR) Stock Price Target Cut by HC Wainwright

Westwater Resources (NASDAQ:WWR) had its price target dropped by investment analysts at HC Wainwright from $1.50 to $1.25 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. HC Wainwright‘s price target would suggest a potential upside of 223.25% from the company’s current price.

Westwater Resources Stock Performance

Shares of NASDAQ:WWR opened at $0.39 on Friday. Westwater Resources has a 52-week low of $0.36 and a 52-week high of $1.31. The firm has a fifty day moving average of $0.47 and a 200 day moving average of $0.60. The firm has a market capitalization of $49.72 million, a PE ratio of -2.97 and a beta of 1.83.

Hedge Funds Weigh In On Westwater Resources

A number of hedge funds and other institutional investors have recently modified their holdings of WWR. Intrua Financial LLC purchased a new position in shares of Westwater Resources in the 3rd quarter worth about $547,000. Brooklands Fund Management Ltd increased its position in shares of Westwater Resources by 117.7% during the 1st quarter. Brooklands Fund Management Ltd now owns 575,000 shares of the basic materials company’s stock valued at $376,000 after purchasing an additional 310,894 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Westwater Resources during the 1st quarter valued at about $87,000. 7.72% of the stock is currently owned by hedge funds and other institutional investors.

Westwater Resources Company Profile

Westwater Resources, Inc. is a U.S.-based company focused on developing domestic sources of natural graphite and producing graphite products for the lithium-ion battery industry. Through its Alabama-based operations, the company is working to supply battery-grade graphite and coated, purified spherical graphite intended for use as anode material in electric vehicle and energy-storage batteries. Westwater’s principal assets include the Coosa Graphite Project in east-central Alabama, which is intended to provide natural graphite feedstock, and the Kellyton Graphite Processing Plant in Kellyton, Alabama.