Navellier & Associates Inc. Reduces Stock Holdings in Uranium Energy Corp. (NYSEAMERICAN:UEC)

Navellier & Associates Inc. reduced its stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,467 shares of the basic materials company’s stock after selling 18,241 shares during the period. Navellier & Associates Inc.’s holdings in Uranium Energy were worth $338,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in UEC. Versant Capital Management Inc purchased a new position in shares of Uranium Energy during the first quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Uranium Energy during the first quarter worth approximately $36,000. Farther Finance Advisors LLC grew its position in shares of Uranium Energy by 43.5% during the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 2,364 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Uranium Energy during the fourth quarter worth approximately $67,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Uranium Energy during the fourth quarter worth approximately $76,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Uranium Energy Price Performance

NYSEAMERICAN UEC opened at $8.91 on Friday. Uranium Energy Corp. has a 12 month low of $3.85 and a 12 month high of $9.09. The company has a 50-day moving average of $6.65 and a 200-day moving average of $6.30. The company has a market cap of $3.96 billion, a P/E ratio of -52.41 and a beta of 1.42.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets assumed coverage on shares of Uranium Energy in a research report on Tuesday, June 3rd. They issued an “outperform” rating and a $7.75 price objective on the stock. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $10.13.

Uranium Energy Profile

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.