Traders Purchase Large Volume of NexGen Energy Put Options (NYSE:NXE)

NexGen Energy Ltd. (NYSE:NXE) saw some unusual options trading activity on Monday. Investors purchased 25,721 put options on the stock. This is an increase of 273% compared to the typical daily volume of 6,901 put options.

Hedge Funds Weigh In On NexGen Energy

Several hedge funds have recently bought and sold shares of NXE. Larson Financial Group LLC bought a new stake in NexGen Energy during the second quarter valued at about $33,000. Lodestone Wealth Management LLC bought a new stake in shares of NexGen Energy in the first quarter valued at about $91,000. New Harbor Financial Group LLC lifted its stake in shares of NexGen Energy by 20.0% in the third quarter. New Harbor Financial Group LLC now owns 15,000 shares of the company’s stock valued at $98,000 after buying an additional 2,500 shares during the period. Element Capital Management LLC bought a new position in NexGen Energy during the second quarter worth about $110,000. Finally, Legacy Capital Group California Inc. bought a new position in NexGen Energy during the second quarter worth about $125,000. 42.43% of the stock is owned by institutional investors and hedge funds.

NexGen Energy Trading Down 0.8 %

NYSE NXE opened at $7.89 on Wednesday. NexGen Energy has a 1-year low of $4.95 and a 1-year high of $8.88. The company has a market capitalization of $4.43 billion, a PE ratio of -789.00 and a beta of 1.91. The firm’s fifty day simple moving average is $6.41 and its 200-day simple moving average is $6.92.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. During the same quarter last year, the company earned ($0.03) earnings per share. As a group, analysts predict that NexGen Energy will post -0.09 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NXE. National Bank Financial raised shares of NexGen Energy to a “strong-buy” rating in a research note on Tuesday, September 3rd. Ventum Cap Mkts raised shares of NexGen Energy to a “strong-buy” rating in a research note on Monday, July 8th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and an average target price of $11.00.

About NexGen Energy

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.