NexGen Energy (NYSE:NXE) Sees Large Volume Increase – Still a Buy?
by Mitch Edgeman · The Markets DailyNexGen Energy (NYSE:NXE – Get Free Report) saw strong trading volume on Friday . 18,648,503 shares traded hands during trading, an increase of 99% from the previous session’s volume of 9,377,559 shares.The stock last traded at $10.6810 and had previously closed at $11.08.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on NXE shares. Zacks Research upgraded NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Raymond James Financial reiterated an “outperform” rating on shares of NexGen Energy in a research note on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of NexGen Energy in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.
Get Our Latest Analysis on NexGen Energy
NexGen Energy Price Performance
The business has a fifty day moving average of $10.51 and a 200 day moving average of $8.93. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of -26.90 and a beta of 1.44.
NexGen Energy (NYSE:NXE – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). On average, equities research analysts expect that NexGen Energy will post -0.05 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. New Harbor Financial Group LLC boosted its holdings in shares of NexGen Energy by 4.3% during the 4th quarter. New Harbor Financial Group LLC now owns 24,500 shares of the company’s stock worth $225,000 after buying an additional 1,000 shares during the period. Legacy Capital Group California Inc. lifted its position in shares of NexGen Energy by 1.3% during the 4th quarter. Legacy Capital Group California Inc. now owns 86,250 shares of the company’s stock worth $794,000 after purchasing an additional 1,093 shares during the last quarter. Cetera Investment Advisers boosted its stake in NexGen Energy by 1.4% during the 2nd quarter. Cetera Investment Advisers now owns 128,690 shares of the company’s stock valued at $893,000 after purchasing an additional 1,772 shares during the period. Tidal Investments LLC grew its holdings in NexGen Energy by 6.9% in the 2nd quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock valued at $194,000 after buying an additional 1,817 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in NexGen Energy by 5.7% in the 2nd quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock worth $243,000 after buying an additional 1,904 shares during the period. 42.43% of the stock is currently owned by hedge funds and other institutional investors.
NexGen Energy Company Profile
NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.
The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.