The stock of Uranium Energy Corp. (NYSE:UEC) is now priced at $1.05 and the shares are -0.04 points down or -3.67% lower compared to its previous closing price of $1.09. The stock had 1.034 million contracts set over the past session. UEC shares’ daily volume is compared to its average trading volume at 1.131 million shares. However, it has a float of 170 million and although its performance was 3.96% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the UEC share price recently placing at $1.02 to $1.08. However, some brokerage firms have priced the stock below the average, including one that has called $1.7.
The shorts are running away from the Uranium Energy Corp. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the UEC shares have declined. Short interest in the stock represents just 11.01% of its float, but the volume has dropped by 0.
In the last trading session, Uranium Energy Corp. (NYSE:UEC) raised by $0.04 over the week and gained $0.04 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.2641. The stock recorded its established 52-week high on 05/11/20.
Since 03/12/20, the stock has traded to a low of $0.35 at 200%, 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 2.04. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Uranium Energy Corp.’s two-week RSI is 55.36. This suggests that the stock is neutral at the moment and that UEC shares’ price movement remains stable. The stochastic readings are equally revealing at 64.73% meaning the UEC share price is currently in neutral territory.
The technical chart shows that the UEC stock will likely settle at between $1.08 and $1.11 per share. However, if the stock dips below $1.02, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.99.
Currently, the stock is trading in the green of MACD, with a reading of 0.0374. 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 UEC a rating of Buy in their intiating review released on October 25. H.C. Wainwright analysts see the stock as a Buy with a target price of $4.2 in a flash note released to investors on June 09 resuming covering the stock. RBC Capital Mkts analysts see the stock as Underperform. Nonetheless, the analysts revised the share prices down on March 14, placing it at $1.25 from $1.75.
The average rating for the UEC equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Uranium Energy Corp. polled by Reuters, 0 rated UEC as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) 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.