Canaccord Genuity lifts Uranium Energy Corp. [UEC] price estimate. Who else is bullish?

Uranium Energy Corp. [AMEX: UEC] slipped around -0.08 points on Friday, while shares priced at $4.14 at the close of the session, down -1.90%. The company report on August 22, 2022 that Uranium Energy Corp Completes Acquisition of UEX Corporation to Create the Largest Diversified North American Focused Uranium Company.


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NYSE American: UECTSX: UEX.

Uranium Energy Corp (NYSE American: UEC) (the “Company” or “UEC”) and UEX Corporation (TSX: UEX) (“UEX”) are pleased to announce the closing of the previously announced plan of arrangement (the “Arrangement”) under the Canada Business Corporations Act, pursuant to which UEC acquired all of the issued and outstanding common shares of UEX that it did not already own. The Arrangement was approved at a special meeting of UEX securityholders held on August 15, 2022 and was subsequently approved by the Supreme Court of British Columbia on August 18, 2022. Pursuant to the terms of the Arrangement, UEX shareholders received 0.090 common shares of UEC for each UEX common share held.

Uranium Energy Corp. stock is now 23.58% up from its year-to-date (YTD) trading value. UEC Stock saw the intraday high of $4.42 and lowest of $4.12 per share. The company’s 52-week high price is 6.60, which means current price is +76.92% above from all time high which was touched on 04/13/22.

Compared to the average trading volume of 10.98M shares, UEC reached a trading volume of 8657401 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Uranium Energy Corp. [UEC]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for UEC shares is $6.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on UEC stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for Uranium Energy Corp. shares, keeping their opinion on the stock as Speculative Buy, with their previous recommendation back on June 13, 2022. The new note on the price target was released on April 22, 2022, representing the official price target for Uranium Energy Corp. stock. Previously, the target price had yet another raise to $1.50, while Canaccord Genuity analysts kept a Speculative Buy rating on UEC stock.

The Average True Range (ATR) for Uranium Energy Corp. is set at 0.33, with the Price to Sales ratio for UEC stock in the period of the last 12 months amounting to 63.29. The Price to Book ratio for the last quarter was 3.80.

How has UEC stock performed recently?

Uranium Energy Corp. [UEC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.61. With this latest performance, UEC shares dropped by -0.24% in over the last four-week period, additionally plugging by 7.25% over the last 6 months – not to mention a rise of 45.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UEC stock in for the last two-week period is set at 52.38, with the RSI for the last a single of trading hit 51.07, and the three-weeks RSI is set at 52.62 for Uranium Energy Corp. [UEC]. The present Moving Average for the last 50 days of trading for this stock 3.77, while it was recorded at 4.37 for the last single week of trading, and 3.86 for the last 200 days.

Uranium Energy Corp. [UEC]: Deeper insight into the fundamentals

Uranium Energy Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.60 and a Current Ratio set at 20.00.

Insider trade positions for Uranium Energy Corp. [UEC]

There are presently around $574 million, or 45.30% of UEC stock, in the hands of institutional investors. The top three institutional holders of UEC stocks are: STATE STREET CORP with ownership of 30,058,991, which is approximately -2.455% of the company’s market cap and around 2.00% of the total institutional ownership; BLACKROCK INC., holding 18,679,150 shares of the stock with an approximate value of $77.33 million in UEC stocks shares; and VANGUARD GROUP INC, currently with $60.62 million in UEC stock with ownership of nearly 12.075% of the company’s market capitalization.

94 institutional holders increased their position in Uranium Energy Corp. [AMEX:UEC] by around 35,813,679 shares. Additionally, 78 investors decreased positions by around 33,592,157 shares, while 32 investors held positions by with 69,226,981 shares. The mentioned changes placed institutional holdings at 138,632,817 shares, according to the latest SEC report filing. UEC stock had 33 new institutional investments in for a total of 17,836,839 shares, while 31 institutional investors sold positions of 13,698,403 shares during the same period.

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