Foremost Clean Energy (NASDAQ:FMST) Stock Price Down 14.1% – Time to Sell?

Foremost Clean Energy Ltd. (NASDAQ:FMST)’s share price dropped 14.1% during trading on Wednesday . The stock traded as low as $1.65 and last traded at $1.71. 269,489 shares traded hands during mid-day trading, an increase of 58% from the average daily volume of 170,234 shares. The stock had previously closed at $1.99.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FMST. Wall Street Zen raised Foremost Clean Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings upgraded Foremost Clean Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Foremost Clean Energy currently has a consensus rating of “Sell”.

Foremost Clean Energy Stock Down 14.1%

The firm’s 50-day moving average price is $1.63 and its 200-day moving average price is $1.88. The company has a market cap of $29.67 million, a P/E ratio of -4.89 and a beta of 4.61.

Foremost Clean Energy (NASDAQ:FMST) last released its quarterly earnings data on Monday, June 29th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01).

Institutional Investors Weigh In On Foremost Clean Energy

Several institutional investors have recently made changes to their positions in FMST. Virtu Financial LLC bought a new position in shares of Foremost Clean Energy in the fourth quarter worth $50,000. XTX Topco Ltd bought a new stake in shares of Foremost Clean Energy during the 4th quarter valued at $66,000. Millennium Management LLC bought a new stake in shares of Foremost Clean Energy during the 4th quarter valued at $25,000. Engineers Gate Manager LP purchased a new stake in Foremost Clean Energy during the 4th quarter worth about $41,000. Finally, Jane Street Group LLC lifted its holdings in Foremost Clean Energy by 135.2% during the 4th quarter. Jane Street Group LLC now owns 71,962 shares of the company’s stock worth $153,000 after purchasing an additional 41,372 shares in the last quarter. 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. The company was founded on July 7, 2005 and is headquartered in Vancouver, Canada.