NexGen Energy Ltd. (NYSE:NXE) Short Interest Update

by · The Markets Daily

NexGen Energy Ltd. (NYSE:NXE – Get Free Report) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 77,450,000 shares, an increase of 25.0% from the March 15th total of 61,960,000 shares. Based on an average trading volume of 9,980,000 shares, the short-interest ratio is presently 7.8 days. Approximately 14.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NXE. Stifel Canada upgraded NexGen Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. Stifel Nicolaus started coverage on NexGen Energy in a report on Wednesday, March 12th. They set a “buy” rating for the company. Raymond James reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Friday, April 4th. Finally, Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a report on Thursday, March 6th. Three analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Strong Buy”.

Get Our Latest Stock Report on NXE

NexGen Energy Trading Down 5.3 %

Shares of NYSE:NXE traded down $0.25 during trading on Monday, reaching $4.49. The company’s stock had a trading volume of 5,961,051 shares, compared to its average volume of 6,886,964. The firm’s 50 day simple moving average is $4.97 and its two-hundred day simple moving average is $6.51. NexGen Energy has a 12 month low of $3.91 and a 12 month high of $8.96. The stock has a market capitalization of $2.56 billion, a PE ratio of 29.94 and a beta of 2.02.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in shares of NexGen Energy by 10.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,345 shares of the company’s stock worth $101,000 after purchasing an additional 1,500 shares during the period. Invesco Ltd. lifted its stake in NexGen Energy by 6.7% in the fourth quarter. Invesco Ltd. now owns 26,399 shares of the company’s stock worth $174,000 after purchasing an additional 1,656 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of NexGen Energy by 2.6% during the fourth quarter. Cetera Investment Advisers now owns 104,611 shares of the company’s stock valued at $690,000 after buying an additional 2,648 shares during the period. Hsbc Holdings PLC raised its holdings in shares of NexGen Energy by 22.8% in the fourth quarter. Hsbc Holdings PLC now owns 18,729 shares of the company’s stock worth $124,000 after buying an additional 3,473 shares during the period. Finally, Tcfg Wealth Management LLC lifted its stake in shares of NexGen Energy by 6.3% during the 4th quarter. Tcfg Wealth Management LLC now owns 62,500 shares of the company’s stock worth $412,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Company Profile

(Get Free Report)

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 a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.

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