NexGen Energy Target of Unusually High Options Trading (NYSE:NXE)

NexGen Energy (NYSE:NXE) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 29,814 call options on the stock. This is an increase of approximately 90% compared to the typical volume of 15,684 call options.

NexGen Energy Price Performance

Shares of NexGen Energy stock opened at $8.64 on Wednesday. The firm has a market cap of $5.65 billion, a P/E ratio of -34.54 and a beta of 1.44. The firm has a 50 day simple moving average of $8.58 and a 200 day simple moving average of $7.15. NexGen Energy has a fifty-two week low of $3.91 and a fifty-two week high of $9.95.

NexGen Energy (NYSE:NXE) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). On average, sell-side analysts expect that NexGen Energy will post -0.05 EPS for the current year.

Institutional Trading of NexGen Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers increased its holdings in shares of NexGen Energy by 1.4% in the second quarter. Cetera Investment Advisers now owns 128,690 shares of the company’s stock valued at $893,000 after purchasing an additional 1,772 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of NexGen Energy by 6.9% in the second quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock valued at $194,000 after purchasing an additional 1,817 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of NexGen Energy by 5.7% in the second quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock valued at $243,000 after purchasing an additional 1,904 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of NexGen Energy by 10.4% in the first quarter. Hsbc Holdings PLC now owns 20,675 shares of the company’s stock valued at $93,000 after purchasing an additional 1,946 shares in the last quarter. Finally, Sava Infond d.o.o. increased its holdings in shares of NexGen Energy by 14.3% in the second quarter. Sava Infond d.o.o. now owns 16,000 shares of the company’s stock valued at $111,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

Analyst Upgrades and Downgrades

NXE has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NexGen Energy in a report on Wednesday, October 8th. Zacks Research raised shares of NexGen Energy from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. TD Securities reaffirmed a “buy” rating on shares of NexGen Energy in a report on Friday, August 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

NexGen Energy Company Profile

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 a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.