Westwater Resources (NASDAQ:WWR) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Westwater Resources, Inc. (NASDAQ:WWR)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.00 and traded as high as $1.26. Westwater Resources shares last traded at $1.19, with a volume of 3,178,259 shares traded.

Analyst Ratings Changes

Separately, HC Wainwright dropped their price target on shares of Westwater Resources from $2.00 to $1.75 and set a “buy” rating on the stock in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $1.75.

Westwater Resources Stock Performance

The firm’s 50-day simple moving average is $0.95 and its 200-day simple moving average is $1.00. The company has a market capitalization of $140.41 million, a price-to-earnings ratio of -9.15 and a beta of 1.49.

Hedge Funds Weigh In On Westwater Resources

Several large investors have recently added to or reduced their stakes in WWR. Baader Bank Aktiengesellschaft bought a new stake in shares of Westwater Resources in the 3rd quarter worth approximately $29,000. Centiva Capital LP bought a new stake in shares of Westwater Resources during the third quarter valued at approximately $64,000. Evernest Financial Advisors LLC acquired a new position in shares of Westwater Resources in the third quarter valued at $95,000. Soviero Asset Management LP bought a new position in Westwater Resources in the third quarter worth $446,000. Finally, Two Sigma Investments LP acquired a new stake in Westwater Resources during the third quarter worth $972,000. Institutional investors and hedge funds own 7.72% of the company’s stock.

About Westwater Resources

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.