NexGen Energy Ltd (NYSE:NXE) shares, rose in value on Thursday, April 04, with the stock price down by -1.31% to the previous day’s close as strong demand from buyers drove the stock to $8.69.
Actively observing the price movement in the recent trading, the stock is buoying the session at $8.81. The value of beta (5-year monthly) is 1.80 whereas the PE ratio is 84.17 over 12-month period. Referring to stock’s 52-week performance, its high was $8.87, and the low was $3.49. On the whole, NXE has fluctuated by 14.71% over the past month.
With the market capitalization of NexGen Energy Ltd currently standing at about $4.69 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.03, which is expected to increase to -$0.03 for fiscal year -$0.13 and then to about -$0.12 by fiscal year 2025. Data indicates that the EPS growth is expected to be 23.50% in 2025, while the next year’s EPS growth is forecast to be 7.70%.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NXE’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NXE currently trading nearly 12.95% and 14.99% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 69.37, while the 7-day volatility ratio is showing 4.22% which for the 30-day chart, stands at 4.90%. Furthermore, NexGen Energy Ltd (NXE)’s beta value is 1.91, and its average true range (ATR) is 0.35.
A comparison of NexGen Energy Ltd (NXE) with its peers suggests the former has fared considerably weaker in the market. NXE showed an intraday change of -1.31% in today’s session so far, and over the past year, it grew by 126.43%%.
Data on historical trading for NexGen Energy Ltd (NYSE:NXE) indicates that the trading volumes over the past 10 days have averaged 5.49 million and over the past 3 months, they’ve averaged 6.68 million. According to company’s latest data on outstanding shares, there are 525.34 million shares outstanding.
Nearly 8.73% of NexGen Energy Ltd’s shares belong to company insiders and institutional investors own 48.62% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 39.98 million shares as on Mar 15, 2024, resulting in a short ratio of 6.16. According to the data, the short interest in NexGen Energy Ltd (NXE) stood at 7.75% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 39.22 million. The stock has risen by 24.21% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NXE stock heading into the next quarter.
