NexGen Energy (NYSE:NXE) Stock Price Down 6.1%

NexGen Energy Ltd. (NYSE:NXE) fell 6.1% during trading on Wednesday . The stock traded as low as $7.52 and last traded at $7.57. 5,693,631 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 6,619,096 shares. The stock had previously closed at $8.06.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NXE. Haywood Securities upgraded shares of NexGen Energy to a “strong-buy” rating in a report on Friday, May 17th. Scotiabank initiated coverage on shares of NexGen Energy in a report on Monday, April 1st. They set a “sector outperform” rating on the stock.

NexGen Energy Stock Up 2.8 %

The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of -781.22 and a beta of 1.90. The company’s fifty day simple moving average is $7.87 and its 200 day simple moving average is $7.33.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). As a group, analysts anticipate that NexGen Energy Ltd. will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On NexGen Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in shares of NexGen Energy in the third quarter valued at approximately $28,000. Anchor Investment Management LLC purchased a new position in NexGen Energy during the 4th quarter worth $63,000. Financial Security Advisor Inc. bought a new stake in shares of NexGen Energy in the 3rd quarter worth $61,000. Clear Street Markets LLC bought a new stake in shares of NexGen Energy in the 3rd quarter worth $65,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of NexGen Energy in the first quarter valued at about $91,000. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Company Profile

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.