Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Down - Here's Why

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $7.29, but opened at $7.10. Uranium Energy shares last traded at $6.97, with a volume of 1,193,079 shares trading hands.

Analysts Set New Price Targets

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A number of research firms recently commented on UEC. Roth Mkm restated a "buy" rating and issued a $10.25 price objective (up previously from $9.75) on shares of Uranium Energy in a research report on Wednesday, October 23rd. HC Wainwright restated a "buy" rating and issued a $10.25 price objective on shares of Uranium Energy in a research report on Tuesday, September 24th.

Check Out Our Latest Analysis on UEC

Uranium Energy Price Performance

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The firm has a 50 day moving average price of $6.36. The firm has a market cap of $2.93 billion, a P/E ratio of -118.48 and a beta of 1.82.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last issued its earnings results on Thursday, September 26th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter. On average, equities analysts anticipate that Uranium Energy Corp. will post 0.09 earnings per share for the current year.

Insider Activity

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In related news, EVP Scott Melbye purchased 9,500 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $4.18 per share, with a total value of $39,710.00. Following the acquisition, the executive vice president now directly owns 988,031 shares in the company, valued at $4,129,969.58. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Uranium Energy news, EVP Scott Melbye bought 9,500 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $4.18 per share, with a total value of $39,710.00. Following the completion of the acquisition, the executive vice president now owns 988,031 shares of the company's stock, valued at $4,129,969.58. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Amir Adnani bought 60,000 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $4.10 per share, for a total transaction of $246,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,242,326 shares of the company's stock, valued at approximately $17,393,536.60. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in UEC. Riggs Asset Managment Co. Inc. acquired a new stake in shares of Uranium Energy during the 3rd quarter worth approximately $501,000. ProShare Advisors LLC boosted its position in shares of Uranium Energy by 10.6% during the 1st quarter. ProShare Advisors LLC now owns 69,268 shares of the basic materials company's stock worth $468,000 after acquiring an additional 6,643 shares in the last quarter. Riverwater Partners LLC acquired a new stake in shares of Uranium Energy during the 3rd quarter worth approximately $2,341,000. Grimes & Company Inc. acquired a new stake in shares of Uranium Energy during the 3rd quarter worth approximately $394,000. Finally, Vanguard Group Inc. boosted its position in shares of Uranium Energy by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 22,761,516 shares of the basic materials company's stock worth $153,640,000 after acquiring an additional 538,703 shares in the last quarter. 62.28% of the stock is owned by 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.

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