Wall Street Zen Initiates Coverage on Westwater Resources (NASDAQ:WWR)

Stock analysts at Wall Street Zen began coverage on shares of Westwater Resources (NASDAQ:WWR) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the basic materials company’s stock.

Separately, HC Wainwright assumed coverage on shares of Westwater Resources in a research report on Tuesday, March 11th. They set a “buy” rating and a $2.50 price target for the company.

Westwater Resources Price Performance

Shares of WWR stock opened at $0.48 on Wednesday. The company’s fifty day simple moving average is $0.53 and its two-hundred day simple moving average is $0.65. Westwater Resources has a 1 year low of $0.45 and a 1 year high of $1.32. The stock has a market capitalization of $36.55 million, a price-to-earnings ratio of -3.68 and a beta of 1.23.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WWR. Jane Street Group LLC increased its stake in Westwater Resources by 165.3% in the fourth quarter. Jane Street Group LLC now owns 56,249 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 35,046 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Westwater Resources during the first quarter valued at about $55,000. Virtu Financial LLC boosted its position in Westwater Resources by 29.1% during the fourth quarter. Virtu Financial LLC now owns 85,116 shares of the basic materials company’s stock valued at $60,000 after buying an additional 19,211 shares during the period. Renaissance Technologies LLC boosted its position in Westwater Resources by 536.3% during the fourth quarter. Renaissance Technologies LLC now owns 99,201 shares of the basic materials company’s stock valued at $70,000 after buying an additional 83,611 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in Westwater Resources by 53.0% during the first quarter. Pinnacle Associates Ltd. now owns 133,900 shares of the basic materials company’s stock valued at $74,000 after buying an additional 46,400 shares during the period. 7.72% of the stock is currently owned by hedge funds and other institutional investors.

Westwater Resources Company Profile

Westwater Resources, Inc operates as an energy technology company, focuses on developing battery-grade natural graphite materials. The company holds interests in Kellyton Graphite Plant located in Kellyton, Alabama; and Bama Mine Project situated in south Alabama. It holds interests in Coosa graphite project located in Coosa County, Alabama.