Westwater Resources (NASDAQ:WWR) Price Target Lowered to $1.50 at HC Wainwright

Westwater Resources (NASDAQ:WWR) had its price objective decreased by equities researchers at HC Wainwright from $1.75 to $1.50 in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price target would indicate a potential upside of 263.64% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. D. Boral Capital began coverage on shares of Westwater Resources in a report on Thursday, June 11th. They issued a “buy” rating and a $3.00 target price for the company. Maxim Group began coverage on Westwater Resources in a report on Wednesday, April 15th. They set a “buy” rating and a $2.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $2.17.

Westwater Resources Price Performance

Shares of NASDAQ:WWR opened at $0.41 on Monday. Westwater Resources has a 1-year low of $0.38 and a 1-year high of $3.75. The stock has a market cap of $52.44 million, a P/E ratio of -3.17 and a beta of 1.59. The firm has a fifty day moving average price of $0.49 and a 200 day moving average price of $0.69.

Hedge Funds Weigh In On Westwater Resources

Several institutional investors have recently bought and sold shares of WWR. Alps Advisors Inc. acquired a new stake in shares of Westwater Resources in the 4th quarter worth $89,000. XTX Topco Ltd increased its stake in shares of Westwater Resources by 717.9% during the fourth quarter. XTX Topco Ltd now owns 610,853 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 536,170 shares during the period. Renaissance Technologies LLC increased its stake in shares of Westwater Resources by 169.4% during the fourth quarter. Renaissance Technologies LLC now owns 2,836,890 shares of the basic materials company’s stock worth $2,128,000 after acquiring an additional 1,783,833 shares during the period. Two Sigma Investments LP purchased a new position in Westwater Resources during the third quarter worth about $972,000. Finally, Geode Capital Management LLC raised its holdings in Westwater Resources by 54.4% during the fourth quarter. Geode Capital Management LLC now owns 1,288,757 shares of the basic materials company’s stock worth $967,000 after purchasing an additional 454,005 shares in the last quarter. 7.72% of the stock is owned by institutional investors and hedge funds.

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.