Westwater Resources (NASDAQ:WWR) Stock Falls 1.5% – What’s Next?

Shares of Westwater Resources, Inc. (NASDAQ:WWR) fell 1.5% during trading on Wednesday. The stock traded as low as $0.3970 and last traded at $0.4014. 576,355 shares were traded during trading, a decline of 70% from the average daily volume of 1,917,954 shares. The stock had previously closed at $0.4076.

Analyst Upgrades and Downgrades

Separately, HC Wainwright decreased their target price on shares of Westwater Resources from $1.75 to $1.50 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Westwater Resources presently has a consensus rating of “Buy” and an average price target of $2.17.

Westwater Resources Stock Down 1.5%

The stock has a market capitalization of $51.61 million, a PE ratio of -3.09 and a beta of 1.83. The stock’s 50 day moving average price is $0.48 and its 200-day moving average price is $0.60.

Institutional Investors Weigh In On Westwater Resources

Hedge funds have recently made changes to their positions in the stock. Intrua Financial LLC acquired a new stake in shares of Westwater Resources in the 3rd quarter worth $547,000. Brooklands Fund Management Ltd raised its stake in Westwater Resources by 117.7% in the first quarter. Brooklands Fund Management Ltd now owns 575,000 shares of the basic materials company’s stock valued at $376,000 after buying an additional 310,894 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Westwater Resources in the first quarter valued at about $87,000. Finally, Evernest Financial Advisors LLC boosted its holdings in Westwater Resources by 200.0% in the first quarter. Evernest Financial Advisors LLC now owns 120,000 shares of the basic materials company’s stock worth $79,000 after acquiring an additional 80,000 shares in the last quarter. 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.