Westwater Resources (NASDAQ:WWR) Shares Pass Above 200-Day Moving Average – Time to Sell?

Westwater Resources, Inc. (NASDAQ:WWR)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.97 and traded as high as $1.03. Westwater Resources shares last traded at $1.01, with a volume of 3,171,358 shares traded.

Wall Street Analyst Weigh In

Separately, HC Wainwright cut their price target on shares of Westwater Resources from $2.00 to $1.75 and set a “buy” rating on the stock in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $1.75.

Westwater Resources Stock Up 10.8%

The company has a market capitalization of $119.17 million, a P/E ratio of -7.77 and a beta of 1.49. The company’s fifty day moving average price is $0.95 and its 200 day moving average price is $0.97.

Institutional Investors Weigh In On Westwater Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in WWR. Two Sigma Investments LP acquired a new stake in shares of Westwater Resources in the 3rd quarter valued at approximately $972,000. Soviero Asset Management LP acquired a new position in shares of Westwater Resources during the third quarter worth $446,000. Evernest Financial Advisors LLC bought a new position in shares of Westwater Resources in the 3rd quarter valued at $95,000. Centiva Capital LP acquired a new stake in shares of Westwater Resources during the 3rd quarter valued at $64,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in Westwater Resources during the 3rd quarter worth $29,000. 7.72% of the stock is currently owned by institutional investors.

About Westwater Resources

Westwater Resources, Inc (NASDAQ: WWR) is a Houston‐based mineral development company focused on advancing sustainable sources of battery‐grade graphite for the lithium‐ion battery market. The company’s primary asset is the Coosa Graphite Project in east‐central Alabama, where Westwater is working to establish a fully integrated, U.S.‐based supply chain for natural spherical graphite. By leveraging in‐house purification and spheronization technology, Westwater aims to produce high‐purity graphite suitable for electric vehicle and stationary energy storage applications.

Originally founded as a diversified natural resources company, Westwater Resources has realigned its strategy toward critical battery minerals.