Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Up – Should You Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $6.25, but opened at $6.70. Uranium Energy shares last traded at $7.05, with a volume of 8,249,635 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on UEC shares. Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a report on Tuesday, March 11th. Stifel Nicolaus set a $10.50 price target on shares of Uranium Energy in a report on Wednesday, March 12th. BMO Capital Markets initiated coverage on shares of Uranium Energy in a report on Tuesday, June 3rd. They set an “outperform” rating and a $7.75 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.25 price objective on shares of Uranium Energy in a research report on Thursday, March 13th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $10.13.

Uranium Energy Stock Performance

The firm has a market cap of $2.95 billion, a P/E ratio of -39.00 and a beta of 1.39. The firm’s fifty day moving average is $5.58 and its 200 day moving average is $6.51.

Institutional Trading of Uranium Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Harbour Investments Inc. grew its holdings in shares of Uranium Energy by 947.4% during the 4th quarter. Harbour Investments Inc. now owns 3,886 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 3,515 shares in the last quarter. Generali Investments Management Co LLC acquired a new stake in Uranium Energy during the fourth quarter worth about $30,000. Versant Capital Management Inc bought a new position in Uranium Energy in the 1st quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Uranium Energy in the 1st quarter valued at about $36,000. Finally, Farther Finance Advisors LLC raised its position in shares of Uranium Energy by 43.5% in the 1st quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company’s stock valued at $36,000 after buying an additional 2,364 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

About Uranium Energy

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.