Uranium Energy (NYSEAMERICAN:UEC) Sets New 52-Week Low – Should You Sell?

Uranium Energy Corp. (NYSEAMERICAN:UEC) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $3.99 and last traded at $4.13, with a volume of 4224609 shares traded. The stock had previously closed at $4.45.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on UEC shares. HC Wainwright reaffirmed a “buy” rating and issued a $12.25 target price on shares of Uranium Energy in a report on Thursday, March 13th. Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. National Bankshares set a $10.00 price objective on shares of Uranium Energy and gave the company an “outperform” rating in a report on Wednesday, February 12th. National Bank Financial started coverage on shares of Uranium Energy in a report on Wednesday, February 12th. They issued an “outperform” rating and a $10.00 target price on the stock. Finally, Stifel Nicolaus set a $10.50 price target on shares of Uranium Energy in a report on Wednesday, March 12th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $10.60.

Uranium Energy Price Performance

The company’s 50-day simple moving average is $6.03 and its 200 day simple moving average is $6.71. The firm has a market cap of $1.79 billion, a P/E ratio of -35.17 and a beta of 1.88.

Institutional Investors Weigh In On Uranium Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. increased its position in shares of Uranium Energy by 947.4% during the 4th quarter. Harbour Investments Inc. now owns 3,886 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 3,515 shares during the last quarter. GAMMA Investing LLC lifted its position in Uranium Energy by 180.1% in the fourth quarter. GAMMA Investing LLC now owns 4,338 shares of the basic materials company’s stock worth $29,000 after buying an additional 2,789 shares during the last quarter. Generali Investments Management Co LLC bought a new position in Uranium Energy during the fourth quarter valued at $30,000. Versant Capital Management Inc purchased a new stake in shares of Uranium Energy in the first quarter valued at $27,000. Finally, National Bank of Canada FI raised its stake in shares of Uranium Energy by 29.7% in the third quarter. National Bank of Canada FI now owns 7,485 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 1,713 shares during the period. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

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.