Foremost Clean Energy (NASDAQ:FMST) Trading 5.1% Higher – Here’s What Happened

Shares of Foremost Clean Energy Ltd. (NASDAQ:FMST) rose 5.1% during trading on Thursday . The company traded as high as $2.35 and last traded at $2.28. Approximately 264,406 shares traded hands during mid-day trading, an increase of 46% from the average daily volume of 181,107 shares. The stock had previously closed at $2.17.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports 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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Foremost Clean Energy has a consensus rating of “Sell”.

Foremost Clean Energy Stock Up 5.1%

The company has a market cap of $32.47 million, a price-to-earnings ratio of -5.85 and a beta of 6.32. The stock’s 50-day simple moving average is $2.49 and its 200 day simple moving average is $2.83.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Investments LP acquired a new stake in shares of Foremost Clean Energy in the third quarter valued at $172,000. Jane Street Group LLC purchased a new position in Foremost Clean Energy during the 2nd quarter valued at about $57,000. Finally, OneDigital Investment Advisors LLC boosted its holdings in Foremost Clean Energy by 35.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 19,000 shares of the company’s stock valued at $55,000 after acquiring an additional 5,000 shares during the period. 0.13% of the stock is currently owned by hedge funds and other institutional investors.

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. The company was founded on July 7, 2005 and is headquartered in Vancouver, Canada.