NexGen Energy (NYSE:NXE) Shares Down 4.5% – What’s Next?

Shares of NexGen Energy Ltd. (NYSE:NXE) traded down 4.5% during mid-day trading on Friday . The company traded as low as $6.19 and last traded at $6.20. 1,612,963 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 8,023,677 shares. The stock had previously closed at $6.49.

NexGen Energy Stock Performance

The business has a fifty day moving average of $6.92 and a 200-day moving average of $6.86. The firm has a market capitalization of $3.45 billion, a P/E ratio of 40.44 and a beta of 1.94.

Institutional Investors Weigh In On NexGen Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in NexGen Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,436,513 shares of the company’s stock valued at $134,779,000 after buying an additional 298,106 shares during the period. Segra Capital Management LLC raised its holdings in NexGen Energy by 19.8% during the third quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock worth $76,217,000 after purchasing an additional 1,931,200 shares in the last quarter. Van ECK Associates Corp lifted its position in NexGen Energy by 79.7% in the fourth quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company’s stock worth $55,971,000 after purchasing an additional 3,762,756 shares during the period. The Manufacturers Life Insurance Company boosted its stake in NexGen Energy by 792.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company’s stock valued at $46,434,000 after purchasing an additional 6,317,538 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of NexGen Energy by 222.6% during the 4th quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company’s stock valued at $41,882,000 after purchasing an additional 4,378,933 shares during the period. 42.43% of the stock is currently owned by institutional investors.

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.