NexGen Energy Sees Unusually Large Options Volume (NYSE:NXE)

NexGen Energy Ltd. (NYSE:NXE) was the recipient of some unusual options trading on Monday. Stock traders acquired 26,447 call options on the stock. This is an increase of approximately 155% compared to the typical daily volume of 10,361 call options.

NexGen Energy Stock Up 4.6 %

Shares of NexGen Energy stock traded up $0.29 during trading on Monday, reaching $6.55. The company’s stock had a trading volume of 3,876,997 shares, compared to its average volume of 5,648,376. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -659.00 and a beta of 1.91. The firm’s 50-day moving average is $6.00 and its two-hundred day moving average is $7.02. NexGen Energy has a 52-week low of $4.95 and a 52-week high of $8.88.

NexGen Energy (NYSE:NXE) last issued its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. During the same period in the previous year, the firm earned ($0.03) EPS. On average, equities research analysts anticipate that NexGen Energy will post -0.09 EPS for the current year.

Wall Street Analyst Weigh In

NXE has been the topic of several research reports. Ventum Cap Mkts upgraded shares of NexGen Energy to a “strong-buy” rating in a research report on Monday, July 8th. National Bank Financial raised NexGen Energy to a “strong-buy” rating in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Strong Buy” and a consensus price target of $11.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC purchased a new stake in NexGen Energy in the second quarter worth about $33,000. Lodestone Wealth Management LLC bought a new stake in shares of NexGen Energy in the 1st quarter worth approximately $91,000. Element Capital Management LLC purchased a new stake in shares of NexGen Energy in the 2nd quarter worth approximately $110,000. Legacy Capital Group California Inc. bought a new position in NexGen Energy during the 2nd quarter valued at approximately $125,000. Finally, CapWealth Advisors LLC bought a new position in NexGen Energy during the 2nd quarter valued at approximately $147,000. Institutional investors own 42.43% of the company’s stock.

About NexGen Energy

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.