Investors Buy Large Volume of Call Options on NexGen Energy (NYSE:NXE)

NexGen Energy Ltd. (NYSE:NXE) saw unusually large options trading on Wednesday. Stock investors purchased 20,824 call options on the company. This represents an increase of 80% compared to the average daily volume of 11,548 call options.

NexGen Energy Stock Up 2.6 %

NXE traded up $0.12 during trading on Wednesday, hitting $4.86. 6,316,184 shares of the company’s stock were exchanged, compared to its average volume of 6,310,735. NexGen Energy has a fifty-two week low of $4.44 and a fifty-two week high of $8.96. The stock has a market cap of $2.77 billion, a P/E ratio of 32.37 and a beta of 1.97. The business’s 50 day moving average is $6.27 and its two-hundred day moving average is $6.81.

Hedge Funds Weigh In On NexGen Energy

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in shares of NexGen Energy by 284.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company’s stock valued at $33,000 after purchasing an additional 3,700 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in NexGen Energy in the 4th quarter valued at about $51,000. Mariner LLC purchased a new position in shares of NexGen Energy in the 4th quarter worth approximately $68,000. Larson Financial Group LLC boosted its stake in shares of NexGen Energy by 122.7% in the 3rd quarter. Larson Financial Group LLC now owns 10,575 shares of the company’s stock worth $69,000 after buying an additional 5,827 shares during the last quarter. Finally, Silver Lake Advisory LLC bought a new position in shares of NexGen Energy in the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 42.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus began coverage on shares of NexGen Energy in a research report on Wednesday. They issued a “buy” rating on the stock. Scotiabank restated an “outperform” rating on shares of NexGen Energy in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, NexGen Energy presently has a consensus rating of “Strong Buy”.

NexGen Energy Company Profile

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.