Would I Buy Uranium Energy Corp. (AMEX: UEC) Stock At Any Time In The Future?

The trading price of Uranium Energy Corp. (AMEX:UEC) closed higher on Tuesday, August 23, closing at $3.67, 8.58% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $3.43 and $3.70. In examining the 52-week price action we see that the stock hit a 52-week high of $6.60 and a 52-week low of $2.07. Over the past month, the stock has gained 3.09% in value.

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Uranium Energy Corp., whose market valuation is $1.16 billion at the time of this writing, is expected to release its quarterly earnings report Oct 26, 2022 – Oct 31, 2022. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.01 per share this quarter, however they have predicted annual earnings per share of -$0.03 for 2022 and -$0.03 for 2023. It means analysts are expecting annual earnings per share growth of 57.10%.

From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $23.13 million.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Uranium Energy Corp. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest UEC has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Sell.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned UEC a recommendation rating is 5. Out of them, 0 rate it a Hold, while 5 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Uranium Energy Corp. (UEC) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

A quick review shows that UEC’s price is currently -8.25% off the SMA20 and 1.19% off the SMA50. The RSI metric on the 14-day chart is currently showing 46.16, and weekly volatility stands at 5.96%. When measured over the past 30 days, the indicator reaches 6.09%. Uranium Energy Corp. (AMEX:UEC)’s beta value is currently sitting at 2.08, while the Average True Range indicator is currently displaying 0.26. With analysts defining $5.00-$7.10 as the low and high price targets, we arrive at a consensus price target of $6.34 for the trailing 12-month period. The current price is about -36.24% off the estimated low and -93.46% off the forecast high, based on this estimate. Investors will be thrilled if UEC’s share price rises to $6.60, which is the median consensus price. At that level, UEC’s share price would be -79.84% below current price.

To see how Uranium Energy Corp. stock has been performing in comparison to its peers in the industry, here are the numbers: UEC stock’s performance was 8.58% in the latest trading, and 66.06% in the past year, while Ur-Energy Inc. (URG) has traded 3.81% on the day and positioned -2.68% lower than it was a year ago. Another comparable company Centrus Energy Corp. (LEU) saw its stock close 8.02% higher in the most recent trading session but was up 61.05% in a year. Furthermore, Denison Mines Corp. (DNN) showed an increase of 3.77% on the day while its price kept declining at 0.00% over the past year. Also in last trading session, the S&P 500 Index has plunged -0.22%, while the Dow Jones Industrial also saw a negative session, down -0.47% on the day.

An evaluation of the daily trading volume of Uranium Energy Corp. (AMEX:UEC) indicates that the 3-month average is 11.02 million. However, this figure has increased over the past 10 days to an average of 8.18 million.

Currently, records show that 281.67 million of the company’s shares remain outstanding. The insiders hold 2.20% of outstanding shares, whereas institutions hold 52.70%. The stats also highlight that short interest as of Jul 28, 2022, stood at 49.66 million shares, resulting in a short ratio of 6.23 at that time. From this, we can conclude that short interest is 17.35% of the company’s total outstanding shares. It is noteworthy that short shares in July were up slightly from the previous month’s figure, which was 49.1 million. However, since the stock’s price has seen 9.55% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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