The stock of Ur-Energy Inc. (NYSE:URG) is now priced at $0.58 and the shares are -0.04 points down or -5.58% lower compared to its previous closing price of $0.62. The stock had 1.13 million contracts set over the past session. URG shares’ daily volume is compared to its average trading volume at 449474 shares. However, it has a float of 155 million and although its performance was 6.95% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the URG share price recently placing at $0.61 to $0.64. However, some brokerage firms have priced the stock below the average, including one that has called $1.03.
The shorts are running away from the Ur-Energy Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the URG shares have declined. Short interest in the stock represents just 2.09% of its float, but the volume has dropped by 0.
In the last trading session, Ur-Energy Inc. (NYSE:URG) raised by $0.0033 over the week and gained $0.0766 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $0.7151. The stock recorded its established 52-week high on 04/23/20.
Since 03/23/20, the stock has traded to a low of $0.271 at 115.61%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.42. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Ur-Energy Inc.’s two-week RSI is 56.45. This suggests that the stock is neutral at the moment and that URG shares’ price movement remains stable. The stochastic readings are equally revealing at 86.58% meaning the URG share price is currently in oversold territory.
The technical chart shows that the URG stock will likely settle at between $0.6359 and $0.6529 per share. However, if the stock dips below $0.6059, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.5929.
Currently, the stock is trading in the green of MACD, with a reading of 0.0315. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned URG a rating of Outperform in their intiating review released on September 02. H.C. Wainwright analysts see the stock as a Buy with a target price of $2.1 in a flash note released to investors on June 19 resuming covering the stock. Rodman & Renshaw analysts see the stock as Mkt Outperform when the analysts initiated the share price coverage on August 10, placing it at $2.52.
The average rating for the URG equity is 2 and is currently gathering a bullish momentum. Of 2 analysts tracking Ur-Energy Inc. polled by Reuters, 0 rated URG as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Ur-Energy Inc. (NYSE:URG) will decrease by about -99.63%, which will see them reach $6.9 million. The company’s full-year revenues are, however, expected to diminish by about -48.23%, down from $32.26 million to $16.7 million. URG’s expected adjusted earnings should drop almost -100% to end up at $0 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -60% to record -$0.02/share.