NexGen Energy (NYSE:NXE) Stock Price Down 8.1%

NexGen Energy Ltd. (NYSE:NXE) shares fell 8.1% on Wednesday . The stock traded as low as $8.00 and last traded at $8.04. 3,592,672 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 6,294,134 shares. The stock had previously closed at $8.75.

Wall Street Analyst Weigh In

Separately, Scotiabank started coverage on NexGen Energy in a report on Monday, April 1st. They set a “sector outperform” rating on the stock.

NexGen Energy Stock Performance

The stock’s fifty day simple moving average is $7.82 and its two-hundred day simple moving average is $7.20. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 377.69 and a beta of 1.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 11.00 and a current ratio of 11.00.

NexGen Energy (NYSE:NXE) last announced 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). Equities research analysts anticipate that NexGen Energy Ltd. will post -0.09 EPS for the current year.

Hedge Funds Weigh In On NexGen Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in NexGen Energy during the 3rd quarter worth $28,000. Anchor Investment Management LLC acquired a new stake in NexGen Energy in the fourth quarter worth about $63,000. Financial Security Advisor Inc. bought a new position in NexGen Energy in the 3rd quarter valued at about $61,000. Clear Street Markets LLC acquired a new position in NexGen Energy during the 3rd quarter valued at about $65,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of NexGen Energy during the 1st quarter worth about $91,000. 42.43% of the stock is currently owned by institutional investors and hedge funds.

NexGen Energy Company Profile

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.