HC Wainwright Reaffirms Buy Rating for Westwater Resources (NASDAQ:WWR)

Westwater Resources (NASDAQ:WWR)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $2.00 price target on the basic materials company’s stock. HC Wainwright’s target price indicates a potential upside of 153.87% from the stock’s previous close.

Separately, Wall Street Zen started coverage on Westwater Resources in a research note on Wednesday, May 21st. They set a “sell” rating for the company.

Westwater Resources Stock Performance

Shares of WWR stock opened at $0.79 on Friday. Westwater Resources has a 52-week low of $0.45 and a 52-week high of $1.32. The firm has a market capitalization of $60.20 million, a P/E ratio of -6.06 and a beta of 1.18. The stock has a 50 day moving average price of $0.68 and a 200 day moving average price of $0.64.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp increased its holdings in Westwater Resources by 34.7% during the 4th quarter. Northern Trust Corp now owns 127,960 shares of the basic materials company’s stock worth $91,000 after purchasing an additional 32,952 shares during the period. Jane Street Group LLC increased its holdings in Westwater Resources by 165.3% during the 4th quarter. Jane Street Group LLC now owns 56,249 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 35,046 shares during the period. Squarepoint Ops LLC increased its holdings in Westwater Resources by 30.4% during the 4th quarter. Squarepoint Ops LLC now owns 177,965 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 41,515 shares during the period. Pinnacle Associates Ltd. increased its holdings in Westwater Resources by 53.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 133,900 shares of the basic materials company’s stock worth $74,000 after purchasing an additional 46,400 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Westwater Resources by 536.3% during the 4th quarter. Renaissance Technologies LLC now owns 99,201 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 83,611 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.