Uranium Energy (NYSEAMERICAN:UEC) Stock Price Down 7.2% – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC) dropped 7.2% during trading on Friday . The company traded as low as $6.58 and last traded at $6.48. Approximately 5,497,004 shares were traded during trading, a decline of 19% from the average daily volume of 6,813,650 shares. The stock had previously closed at $6.98.

Analyst Upgrades and Downgrades

UEC has been the subject of a number of research analyst reports. HC Wainwright upped their price objective on shares of Uranium Energy from $10.25 to $11.00 and gave the company a “buy” rating in a research note on Monday, December 9th. National Bank Financial assumed coverage on Uranium Energy in a report on Wednesday. They set an “outperform” rating and a $10.00 target price for the company. National Bankshares set a $10.00 target price on Uranium Energy and gave the stock an “outperform” rating in a report on Wednesday. Finally, Roth Mkm reiterated a “buy” rating and set a $10.25 target price (up previously from $9.75) on shares of Uranium Energy in a report on Wednesday, October 23rd.

Uranium Energy Price Performance

The stock has a fifty day moving average of $6.64.

Hedge Funds Weigh In On Uranium Energy

A number of institutional investors and hedge funds have recently bought and sold shares of UEC. Vanguard Group Inc. boosted its stake in shares of Uranium Energy by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 25,862,079 shares of the basic materials company’s stock valued at $173,017,000 after buying an additional 631,929 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Uranium Energy by 45.9% during the 4th quarter. JPMorgan Chase & Co. now owns 15,842,713 shares of the basic materials company’s stock valued at $105,988,000 after buying an additional 4,982,949 shares during the last quarter. Norges Bank purchased a new position in shares of Uranium Energy during the 4th quarter valued at approximately $100,773,000. Geode Capital Management LLC boosted its stake in shares of Uranium Energy by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,083,449 shares of the basic materials company’s stock valued at $56,419,000 after buying an additional 159,921 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Uranium Energy by 33.2% during the 4th quarter. Van ECK Associates Corp now owns 6,602,890 shares of the basic materials company’s stock valued at $44,174,000 after buying an additional 1,645,919 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Uranium Energy Company 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.