Westwater Resources (NASDAQ:WWR) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Westwater Resources (NASDAQ:WWR) in a research report released on Tuesday morning,Benzinga reports. They currently have a $1.75 price objective on the basic materials company’s stock.

Westwater Resources Trading Down 3.5%

Shares of NASDAQ WWR opened at $0.61 on Tuesday. The company has a market cap of $76.08 million, a price-to-earnings ratio of -4.69 and a beta of 1.69. Westwater Resources has a 12 month low of $0.45 and a 12 month high of $3.75. The stock has a 50-day moving average price of $0.81 and a two-hundred day moving average price of $1.05.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Baader Bank Aktiengesellschaft acquired a new position in shares of Westwater Resources during the third quarter worth $29,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Westwater Resources during the 4th quarter valued at $50,000. Centiva Capital LP bought a new stake in Westwater Resources during the 3rd quarter worth $64,000. Alps Advisors Inc. bought a new stake in Westwater Resources during the 4th quarter worth $89,000. Finally, Evernest Financial Advisors LLC acquired a new position in Westwater Resources in the 3rd quarter worth about $95,000. Institutional investors and hedge funds own 7.72% of the company’s stock.

Westwater Resources Company Profile

Westwater Resources, Inc (NASDAQ: WWR) is a Houston‐based mineral development company focused on advancing sustainable sources of battery‐grade graphite for the lithium‐ion battery market. The company’s primary asset is the Coosa Graphite Project in east‐central Alabama, where Westwater is working to establish a fully integrated, U.S.‐based supply chain for natural spherical graphite. By leveraging in‐house purification and spheronization technology, Westwater aims to produce high‐purity graphite suitable for electric vehicle and stationary energy storage applications.

Originally founded as a diversified natural resources company, Westwater Resources has realigned its strategy toward critical battery minerals.