NexGen Energy Ltd (NYSE: NXE): Stock Plunge On The Way?

The trading price of NexGen Energy Ltd (NYSE:NXE) floating lower at last check on Tuesday, April 02, closing at $8.32, -1.30% lower than its previous close.

The company’s P/E ratio in the trailing 12-month period was 80.54, while its 5Y monthly beta was 1.80. In examining the 52-week price action we see that the stock hit a 52-week high of $8.45 and a 52-week low of $3.49. Over the past month, the stock has gained 7.77% in value.

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NexGen Energy Ltd, whose market valuation is $4.49 billion at the time of this writing, is expected to release its quarterly earnings report May 01, 2024 – May 06, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.03 per share this quarter, however they have predicted annual earnings per share of -$0.13 for 2024 and -$0.12 for 2025. It means analysts are expecting annual earnings per share growth of 23.50% this year and 7.70% next year.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of NexGen Energy Ltd No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest NXE has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

A quick review shows that NXE’s price is currently 9.65% off the SMA20 and 10.74% off the SMA50. The RSI metric on the 14-day chart is currently showing 65.09, and weekly volatility stands at 4.32%. When measured over the past 30 days, the indicator reaches 5.35%. NexGen Energy Ltd (NYSE:NXE)’s beta value is currently sitting at 1.92, while the Average True Range indicator is currently displaying 0.35.

To see how NexGen Energy Ltd stock has been performing today in comparison to its peers in the industry, here are the numbers: NXE stock’s performance was -1.30% at last check in today’s session, and 113.88% in the past year. NexGen Energy Ltd has a P/E ratio of 80.54.

An evaluation of the daily trading volume of NexGen Energy Ltd (NYSE:NXE) indicates that the 3-month average is 6.60 million. However, this figure has increased over the past 10 days to an average of 4.97 million.

Currently, records show that 525.34 million of the company’s shares remain outstanding. The insiders hold 8.73% of outstanding shares, whereas institutions hold 47.97%. The stats also highlight that short interest as of Mar 15, 2024, stood at 39.98 million shares, resulting in a short ratio of 6.16 at that time. From this, we can conclude that short interest is 7.75% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 39.22 million. However, since the stock’s price has seen 18.86% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.