NexGen Energy Ltd (NYSEAMERICAN:NXE) Sees Large Decrease in Short Interest

NexGen Energy Ltd (NYSEAMERICAN:NXE) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 10,670,000 shares, a drop of 7.5% from the December 15th total of 11,530,000 shares. Based on an average daily trading volume, of 307,000 shares, the short-interest ratio is currently 34.8 days. Approximately 3.4% of the shares of the company are short sold.

Separately, Zacks Investment Research cut shares of NexGen Energy from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th.

Shares of NXE opened at $1.25 on Wednesday. NexGen Energy has a 12 month low of $1.10 and a 12 month high of $1.98.

NexGen Energy (NYSEAMERICAN:NXE) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01.

A number of institutional investors and hedge funds have recently made changes to their positions in NXE. Exane Derivatives raised its stake in shares of NexGen Energy by 52.6% in the third quarter. Exane Derivatives now owns 435,000 shares of the company’s stock valued at $565,000 after acquiring an additional 150,000 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of NexGen Energy by 127.1% in the second quarter. Wells Fargo & Company MN now owns 218,981 shares of the company’s stock valued at $344,000 after acquiring an additional 122,558 shares during the last quarter. Progeny 3 Inc. raised its stake in shares of NexGen Energy by 41.8% in the third quarter. Progeny 3 Inc. now owns 333,120 shares of the company’s stock valued at $433,000 after acquiring an additional 98,230 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of NexGen Energy by 37.8% in the second quarter. UBS Asset Management Americas Inc. now owns 174,100 shares of the company’s stock valued at $272,000 after acquiring an additional 47,800 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of NexGen Energy by 0.3% in the third quarter. Russell Investments Group Ltd. now owns 10,924,243 shares of the company’s stock valued at $14,192,000 after acquiring an additional 32,676 shares during the last quarter.

About NexGen Energy

NexGen Energy Ltd., an exploration stage company, engages in the acquisition, exploration, and evaluation of uranium properties in Canada. Its principal property is the Rook I project that consists of 32 contiguous mineral claims covering 35,065 hectares located in the southwest Athabasca Basin, Saskatchewan.

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