Uranium Energy (NYSEAMERICAN:UEC) Trading 10.5% Higher – Should You Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC) rose 10.5% on Wednesday . The company traded as high as $16.71 and last traded at $17.1830. Approximately 5,179,540 shares changed hands during trading, a decline of 39% from the average daily volume of 8,540,041 shares. The stock had previously closed at $15.55.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on UEC. Zacks Research raised Uranium Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, December 1st. The Goldman Sachs Group boosted their target price on Uranium Energy from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Roth Capital reissued a “buy” rating and issued a $16.00 price objective on shares of Uranium Energy in a research note on Thursday, December 11th. Stifel Nicolaus started coverage on Uranium Energy in a report on Monday, October 6th. They issued a “buy” rating and a $10.50 target price on the stock. Finally, National Bankshares upped their price objective on shares of Uranium Energy from $15.50 to $16.50 and gave the stock an “outperform” rating in a report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $14.92.

Uranium Energy Stock Up 11.9%

The company has a market cap of $8.41 billion, a P/E ratio of -144.97 and a beta of 1.23. The business has a fifty day simple moving average of $12.69 and a two-hundred day simple moving average of $11.67.

Institutional Trading of Uranium Energy

Several hedge funds have recently bought and sold shares of UEC. IFP Advisors Inc raised its stake in Uranium Energy by 732.8% during the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 3,503 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Uranium Energy during the 3rd quarter valued at $33,000. Operose Advisors LLC purchased a new position in shares of Uranium Energy during the 2nd quarter valued at $34,000. Strategic Advocates LLC purchased a new stake in Uranium Energy in the 3rd quarter worth $40,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in Uranium Energy by 31.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 4,654 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 62.28% of the company’s stock.

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.