NexGen Energy (NYSE:NXE) Trading Down 6.1%

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

Wall Street Analysts Forecast Growth

NXE has been the subject of a number of recent analyst reports. Haywood Securities upgraded shares of NexGen Energy to a “strong-buy” rating in a report on Friday, May 17th. Scotiabank started coverage on NexGen Energy in a report on Monday, April 1st. They set a “sector outperform” rating for the company.

NexGen Energy Stock Performance

The company has a market capitalization of $4.08 billion, a PE ratio of -753.25 and a beta of 1.90. The business has a fifty day moving average price of $7.86 and a 200 day moving average price of $7.32.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in shares of NexGen Energy in the third quarter valued at about $28,000. Financial Security Advisor Inc. acquired a new stake in NexGen Energy in the third quarter valued at approximately $61,000. Anchor Investment Management LLC purchased a new stake in shares of NexGen Energy during the fourth quarter valued at approximately $63,000. Clear Street Markets LLC acquired a new position in shares of NexGen Energy during the third quarter worth $65,000. Finally, Spartan Fund Management Inc. acquired a new position in shares of NexGen Energy during the fourth quarter worth $86,000. 42.43% of the stock is owned by hedge funds and other institutional investors.

About NexGen Energy

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.