Wall Street’s most bullish NexGen Energy Ltd. (NYSE:NXE) analysts are predicting the share price to blow past $7 per share during the next 12 months. The current median share price forecast by them is $5.13, suggesting that the stock could increase 210.91% in that time frame. The average price target of $5.54 calls for a nearly 235.76% increase in the stock price.
NexGen Energy Ltd. (NYSE:NXE) rose 1.85% in recent trade and currently has a stock-market value of $576.37M. The shares finished at $1.65, after trading as low as $1.61 earlier in the session. It hit an intraday high Wednesday at $1.66. Trading activity significantly weakened as the volume at ready counter decreased to 199,750 shares versus 380,495 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 334,565 shares. The stock is now 7.14% above against its bear-market low of $1.54 on March 11, 2019. It has retreated -53.33% since it’s 52-week high of $2.53 reached in November. Now the market price is down -20.67% on the year and down -7.3% YTD.
NXE stock’s 50 day simple moving average (SMA 50) price is $1.75 and its 200-day simple moving average (SMA 200) price is $1.95. The company’s stock currently has a total float of 325.02M shares. Its weekly volatility is hovering around 2.94% and felt 3.68% volatility in price over a month. On the upside, the share price will test short term resistance at around $1.67. On a downside, the stock is likely to find some support, which begins at $1.62. The failure to get near-term support could push it to $1.59.
Also, it is trading at rather expensive levels at just over 5.43x price/book and 0x price/sales.
NXE last reported earnings that receded expectations. The company raked in -$0.02 per share, -99.98% change on the same period last year. That was worse than consensus for -$0.01. Revenue for the recent quarter stood at $0, down -100% on last year and below the $0 predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $0 to $0, which should be compared with $270000 generated last year.
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