MQS Management LLC Invests $137,000 in Uranium Energy Corp. $UEC

MQS Management LLC bought a new position in Uranium Energy Corp. (NYSEAMERICAN:UEC) during the 2nd quarter, Holdings Channel.com reports. The fund bought 20,077 shares of the basic materials company’s stock, valued at approximately $137,000.

Several other hedge funds have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Uranium Energy by 1,954.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 153,614 shares of the basic materials company’s stock valued at $1,045,000 after purchasing an additional 146,138 shares in the last quarter. Ballentine Partners LLC raised its stake in Uranium Energy by 207.5% during the second quarter. Ballentine Partners LLC now owns 31,476 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 21,241 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in Uranium Energy during the second quarter valued at $310,000. Titan Global Capital Management USA LLC purchased a new stake in Uranium Energy during the first quarter valued at $6,891,000. Finally, General American Investors Co. Inc. purchased a new stake in Uranium Energy during the first quarter valued at $5,296,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Uranium Energy Trading Up 14.3%

NYSEAMERICAN UEC opened at $15.23 on Wednesday. The company’s 50-day moving average price is $12.82 and its 200-day moving average price is $8.91. The stock has a market cap of $7.36 billion, a PE ratio of -89.58 and a beta of 1.40. Uranium Energy Corp. has a 12 month low of $3.85 and a 12 month high of $17.80.

Analyst Ratings Changes

A number of research firms recently issued reports on UEC. Stifel Nicolaus began coverage on shares of Uranium Energy in a research note on Monday, October 6th. They set a “buy” rating and a $10.50 price target on the stock. TD Securities upped their price target on shares of Uranium Energy from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Roth Capital upped their price target on shares of Uranium Energy from $11.50 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Stifel Canada raised shares of Uranium Energy to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $14.00 target price (up previously from $7.75) on shares of Uranium Energy in a research note on Thursday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.19.

Insider Activity at Uranium Energy

In other news, Director David Kong sold 50,800 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total value of $488,696.00. Following the transaction, the director directly owned 182,237 shares in the company, valued at approximately $1,753,119.94. This represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.00% 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.