Westwater Resources (NASDAQ:WWR) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

by · The Markets Daily

Westwater Resources, Inc. (NASDAQ:WWRGet Free Report)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.60 and traded as high as $0.6076. Westwater Resources shares last traded at $0.5841, with a volume of 1,007,829 shares trading hands.

Wall Street Analysts Forecast Growth

WWR has been the topic of several analyst reports. HC Wainwright cut their price target on shares of Westwater Resources from $1.75 to $1.50 and set a “buy” rating on the stock in a report on Monday, August 3rd. D. Boral Capital assumed coverage on Westwater Resources in a research note on Thursday, June 11th. They issued a “buy” rating and a $3.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $2.17.

View Our Latest Research Report on Westwater Resources

Westwater Resources Trading Down 2.6%

The firm has a market cap of $72.25 million, a P/E ratio of -4.32 and a beta of 1.67. The business’s fifty day simple moving average is $0.51 and its 200-day simple moving average is $0.59.

Insider Buying and Selling at Westwater Resources

In related news, Director Tracy D. Pagliara sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $0.57, for a total transaction of $28,500.00. Following the transaction, the director directly owned 873,888 shares of the company’s stock, valued at approximately $498,116.16. This trade represents a 5.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karli S. Anderson sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $0.76, for a total transaction of $38,000.00. Following the completion of the sale, the director owned 790,909 shares of the company’s stock, valued at approximately $601,090.84. The trade was a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 148,000 shares of company stock valued at $97,700 over the last quarter. 4.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Westwater Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its holdings in shares of Westwater Resources by 169.4% during the 4th quarter. Renaissance Technologies LLC now owns 2,836,890 shares of the basic materials company’s stock worth $2,128,000 after acquiring an additional 1,783,833 shares during the period. Geode Capital Management LLC boosted its position in shares of Westwater Resources by 54.4% during the fourth quarter. Geode Capital Management LLC now owns 1,288,757 shares of the basic materials company’s stock valued at $967,000 after purchasing an additional 454,005 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Westwater Resources in the third quarter worth $972,000. XTX Topco Ltd grew its stake in Westwater Resources by 717.9% in the fourth quarter. XTX Topco Ltd now owns 610,853 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 536,170 shares during the period. Finally, Brooklands Fund Management Ltd raised its holdings in Westwater Resources by 117.7% in the first quarter. Brooklands Fund Management Ltd now owns 575,000 shares of the basic materials company’s stock worth $376,000 after purchasing an additional 310,894 shares in the last quarter. Institutional investors own 7.72% of the company’s stock.

Westwater Resources Company Profile

(Get Free Report)

Westwater Resources, Inc (NASDAQ: WWR) is a Houston‐based mineral development company focused on advancing sustainable sources of battery‐grade graphite for the lithium‐ion battery market. The company’s primary asset is the Coosa Graphite Project in east‐central Alabama, where Westwater is working to establish a fully integrated, U.S.‐based supply chain for natural spherical graphite. By leveraging in‐house purification and spheronization technology, Westwater aims to produce high‐purity graphite suitable for electric vehicle and stationary energy storage applications.

Originally founded as a diversified natural resources company, Westwater Resources has realigned its strategy toward critical battery minerals.

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