NexGen Energy Ltd. (NXE): Worth Taking A Bite At $3.64

NexGen Energy Ltd. (NYSE:NXE) price on Friday, August 19, fall -5.21% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.64.

A look at the stock’s price movement, the level at last check in today’s session was $3.84, moving within a range at $3.725 and $3.85. The beta value (5-Year monthly) was 1.69. Turning to its 52-week performance, $6.56 and $3.39 were the 52-week high and 52-week low respectively. Overall, NXE moved -4.95% over the past month.

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NexGen Energy Ltd.’s market cap currently stands at around $2.39 billion, with investors looking forward to this quarter’s earnings report slated for Mar 17, 2022 – Mar 21, 2022. Analysts project the company’s earnings per share (EPS) to be -$0.02, which has seen fiscal year 2022 EPS growth forecast to increase to -$0.06 and about -$0.05 for fiscal year 2023. Per the data, EPS growth is expected to be 70.00% for 2022 and 16.70% for the next financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that NXE is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.

10 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 8 recommend NXE as a Buy and 2 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

NXE’s current price about -10.99% and -7.89% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.69, while 7-day volatility ratio is 4.64% and 4.99% in the 30-day chart. Further, NexGen Energy Ltd. (NXE) has a beta value of 1.73, and an average true range (ATR) of 0.21. Analysts have given the company’s stock an average 52-week price target of $7.33, forecast between a low of $5.08 and high of $8.95. Looking at the price targets, the low is -39.56% off recent price level in today’s trading while to achieve the yearly target high, it has to move -145.88%. Nonetheless, investors will most likely welcome a -105.77% jump to $7.49 which is the analysts’ median price.

In the market, a comparison of NexGen Energy Ltd. (NXE) and its peers suggest the former has performed considerably weaker. Data shows NXE’s intraday price has changed -5.21% today and 1.05% over the past year. Comparatively, NexGen Energy Ltd. (NXE) has moved -5.21% so far today and only 1.05% in the past 12 months. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.22% and -0.75% respectively on the day as seen in early trades.

If we refocus on NexGen Energy Ltd. (NYSE:NXE), historical trading data shows that trading volumes averaged 1.43 million over the past 10 days and 2.31 million over the past 3 months. The company’s latest data on shares outstanding shows there are 479.28 million shares.

The 15.92% of NexGen Energy Ltd.’s shares are in the hands of company insiders while institutional holders own 28.97% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 16.96 million on Jul 14, 2022, giving us a short ratio of 6.74. The data shows that as of Jul 14, 2022 short interest in NexGen Energy Ltd. (NXE) stood at 3.54% of shares outstanding, with shares short falling to 17.57 million registered in Jun 14, 2022. Current price change has pushed the stock -12.13% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NXE stock continues to rise going into the next quarter.