Uranium Energy (NYSEAMERICAN:UEC) Stock Price Down 4.9% Following Insider Selling

Uranium Energy Corp. (NYSEAMERICAN:UEC) was down 4.9% during trading on Monday following insider selling activity. The company traded as low as $9.61 and last traded at $9.69. Approximately 5,631,020 shares changed hands during trading, a decline of 48% from the average daily volume of 10,901,286 shares. The stock had previously closed at $10.18.

Specifically, Director David Kong sold 50,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total transaction of $488,696.00. Following the transaction, the director owned 182,237 shares in the company, valued at approximately $1,753,119.94. This represents a 21.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on UEC shares. The Goldman Sachs Group started coverage on Uranium Energy in a report on Monday. They set a “buy” rating on the stock. HC Wainwright upped their target price on Uranium Energy from $12.25 to $12.75 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, BMO Capital Markets started coverage on Uranium Energy in a report on Tuesday, June 3rd. They set an “outperform” rating and a $7.75 target price on the stock. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $10.21.

Uranium Energy Trading Down 4.8%

The company has a market cap of $4.31 billion, a PE ratio of -57.00 and a beta of 1.44. The firm has a 50 day moving average of $7.40 and a two-hundred day moving average of $6.35.

Institutional Trading of Uranium Energy

Several hedge funds and other institutional investors have recently made changes to their positions in UEC. Versant Capital Management Inc bought a new position in Uranium Energy in the 1st quarter valued at approximately $27,000. IFP Advisors Inc lifted its position in Uranium Energy by 732.8% in the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 3,503 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Uranium Energy by 43.5% in the 1st quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 2,364 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Uranium Energy in the 1st quarter valued at approximately $36,000. Finally, Oarsman Capital Inc. lifted its position in Uranium Energy by 900.0% in the 1st quarter. Oarsman Capital Inc. now owns 10,000 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 9,000 shares in the last quarter. Hedge funds and other institutional investors own 62.28% 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.