Foremost Clean Energy (NASDAQ:FMST) Shares Down 4.9% – Here’s What Happened

Foremost Clean Energy Ltd. (NASDAQ:FMST)’s share price dropped 4.9% during trading on Wednesday . The company traded as low as $2.51 and last traded at $2.52. Approximately 176,742 shares were traded during trading, a decline of 43% from the average daily volume of 308,924 shares. The stock had previously closed at $2.65.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Foremost Clean Energy in a research report on Wednesday, October 8th. Wall Street Zen downgraded Foremost Clean Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Foremost Clean Energy Price Performance

The firm has a fifty day moving average of $3.02 and a 200 day moving average of $3.09. The stock has a market cap of $35.88 million, a price-to-earnings ratio of -6.46 and a beta of 6.19.

Foremost Clean Energy (NASDAQ:FMST) last issued its earnings results on Thursday, November 13th. The company reported ($0.15) earnings per share (EPS) for the quarter. Research analysts anticipate that Foremost Clean Energy Ltd. will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Foremost Clean Energy

Hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP purchased a new stake in shares of Foremost Clean Energy during the 3rd quarter valued at approximately $172,000. OneDigital Investment Advisors LLC increased its stake in Foremost Clean Energy by 35.7% during the third quarter. OneDigital Investment Advisors LLC now owns 19,000 shares of the company’s stock worth $55,000 after acquiring an additional 5,000 shares during the last quarter. Jane Street Group LLC purchased a new stake in Foremost Clean Energy in the second quarter valued at $57,000. Finally, Fulton Bank N.A. purchased a new stake in Foremost Clean Energy in the second quarter valued at $66,000. Hedge funds and other institutional investors own 0.13% of the company’s stock.

About Foremost Clean Energy

Foremost Clean Energy Ltd. engages in uranium and lithium exploration. Its uranium properties include the Eastern Athabasca and Blue Sky projects. The firm also maintains a secondary portfolio of lithium projects including Zoro, Jean Lake, Peg North, Grass River, and Jol. It operates through the Canada and United States geographical segments.