Stock Traders Purchase High Volume of Put Options on NexGen Energy (NYSE:NXE)

NexGen Energy (NYSE:NXE) saw unusually large options trading activity on Wednesday. Stock investors acquired 10,419 put options on the company. This is an increase of 37% compared to the typical daily volume of 7,581 put options.

Institutional Trading of NexGen Energy

Several large investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of NexGen Energy by 15.3% in the first quarter. Millennium Management LLC now owns 4,101,588 shares of the company’s stock worth $18,407,000 after purchasing an additional 543,179 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of NexGen Energy by 7.3% during the first quarter. NewEdge Advisors LLC now owns 151,423 shares of the company’s stock valued at $680,000 after purchasing an additional 10,266 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of NexGen Energy by 1.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company’s stock valued at $13,412,000 after purchasing an additional 36,510 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of NexGen Energy during the first quarter valued at about $165,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NexGen Energy by 13.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company’s stock worth $3,166,000 after purchasing an additional 81,167 shares during the period. 42.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

NexGen Energy Stock Up 0.1%

NYSE NXE traded up $0.01 on Wednesday, hitting $9.10. The stock had a trading volume of 1,889,258 shares, compared to its average volume of 7,437,402. The company’s 50-day moving average is $10.87 and its two-hundred day moving average is $11.36. NexGen Energy has a one year low of $6.26 and a one year high of $13.96. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of -18.58 and a beta of 1.39.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.