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

NexGen Energy Ltd. (NYSE:NXE) was the recipient of some unusual options trading on Monday. Stock investors purchased 40,170 put options on the stock. This is an increase of 256% compared to the average volume of 11,273 put options.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NXE shares. Stifel Canada raised shares of NexGen Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a research note on Thursday, March 6th. Finally, Stifel Nicolaus initiated coverage on shares of NexGen Energy in a research note on Wednesday, March 12th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, NexGen Energy has an average rating of “Strong Buy”.

Institutional Trading of NexGen Energy

Several hedge funds have recently bought and sold shares of NXE. Janney Montgomery Scott LLC grew its stake in NexGen Energy by 10.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,345 shares of the company’s stock valued at $101,000 after purchasing an additional 1,500 shares during the period. Invesco Ltd. grew its position in NexGen Energy by 6.7% during the fourth quarter. Invesco Ltd. now owns 26,399 shares of the company’s stock valued at $174,000 after buying an additional 1,656 shares during the period. Cetera Investment Advisers increased its holdings in NexGen Energy by 2.6% during the fourth quarter. Cetera Investment Advisers now owns 104,611 shares of the company’s stock worth $690,000 after buying an additional 2,648 shares during the last quarter. Investment Management Corp of Ontario raised its position in NexGen Energy by 14.6% in the third quarter. Investment Management Corp of Ontario now owns 25,070 shares of the company’s stock worth $164,000 after acquiring an additional 3,200 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in NexGen Energy by 22.8% in the fourth quarter. Hsbc Holdings PLC now owns 18,729 shares of the company’s stock valued at $124,000 after acquiring an additional 3,473 shares during the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Stock Performance

NexGen Energy stock traded down $0.07 during mid-day trading on Monday, reaching $4.49. The stock had a trading volume of 11,362,002 shares, compared to its average volume of 6,595,729. The firm has a market capitalization of $2.55 billion, a PE ratio of 29.90 and a beta of 1.97. NexGen Energy has a fifty-two week low of $4.31 and a fifty-two week high of $8.96. The stock’s 50-day simple moving average is $5.68 and its 200-day simple moving average is $6.72.

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.