Foremost Clean Energy (NASDAQ:FMST) Shares Down 14.1% – What’s Next?

Foremost Clean Energy Ltd. (NASDAQ:FMST) shares were down 14.1% on Wednesday . The stock traded as low as $1.65 and last traded at $1.71. Approximately 269,489 shares were traded during trading, an increase of 58% from the average session volume of 170,234 shares. The stock had previously closed at $1.99.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FMST. Weiss Ratings raised shares of Foremost Clean Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. Wall Street Zen raised shares of Foremost Clean Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Foremost Clean Energy Stock Down 14.1%

The company has a market cap of $29.67 million, a PE ratio of -4.89 and a beta of 4.61. The stock has a 50-day moving average of $1.63 and a 200-day moving average of $1.88.

Foremost Clean Energy (NASDAQ:FMST) last posted its earnings results on Monday, June 29th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01).

Institutional Trading of Foremost Clean Energy

A number of large investors have recently modified their holdings of the business. LPL Financial LLC grew its holdings in shares of Foremost Clean Energy by 36.1% during the fourth quarter. LPL Financial LLC now owns 30,194 shares of the company’s stock worth $64,000 after purchasing an additional 8,016 shares in the last quarter. Millennium Management LLC bought a new position in shares of Foremost Clean Energy in the fourth quarter worth approximately $25,000. Jane Street Group LLC purchased a new stake in Foremost Clean Energy in the second quarter valued at approximately $57,000. Engineers Gate Manager LP purchased a new stake in Foremost Clean Energy in the fourth quarter valued at approximately $41,000. Finally, Virtu Financial LLC bought a new stake in Foremost Clean Energy during the fourth quarter valued at approximately $50,000. Institutional investors own 0.13% of the company’s stock.

About Foremost Clean Energy

Foremost Clean Energy Ltd. engages in uranium and lithium exploration. Its uranium properties include the Eastern Athabasca and Blue Sky projects. The firm also maintains a secondary portfolio of lithium projects including Zoro, Jean Lake, Peg North, Grass River, and Jol. It operates through the Canada and United States geographical segments. The company was founded on July 7, 2005 and is headquartered in Vancouver, Canada.