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

NexGen Energy Ltd. (NYSE:NXE) was the target of some unusual options trading activity on Monday. Stock investors bought 25,721 put options on the stock. This is an increase of approximately 273% compared to the average daily volume of 6,901 put options.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC bought a new position in NexGen Energy during the second quarter worth $33,000. Lodestone Wealth Management LLC bought a new position in shares of NexGen Energy in the 1st quarter worth about $91,000. New Harbor Financial Group LLC lifted its stake in shares of NexGen Energy by 20.0% in the 3rd quarter. New Harbor Financial Group LLC now owns 15,000 shares of the company’s stock valued at $98,000 after purchasing an additional 2,500 shares during the period. Element Capital Management LLC bought a new stake in shares of NexGen Energy during the 2nd quarter valued at about $110,000. Finally, Legacy Capital Group California Inc. acquired a new stake in NexGen Energy during the second quarter worth approximately $125,000. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Price Performance

NYSE NXE traded down $0.31 on Monday, reaching $8.02. The company had a trading volume of 6,116,172 shares, compared to its average volume of 5,711,110. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 833.83 and a beta of 1.91. NexGen Energy has a fifty-two week low of $4.95 and a fifty-two week high of $8.88. The business has a 50 day moving average of $6.32 and a two-hundred day moving average of $6.92.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Ventum Cap Mkts upgraded shares of NexGen Energy to a “strong-buy” rating in a report on Monday, July 8th. National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and a consensus price target of $11.00.

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.