Amir Adnani, President and CEO at Uranium Energy Corp (UEC), recently bought 60,000 shares. The buy increased his stake by 3 percent, and came to a total cost of $214,200.
A company director also picked up 38,500 shares, paying just over $100,000 on the same day. And an executive vice president also recently bought 21,000 shares, at a price just over $52,000. Insiders were generally last active in late 2021, when they were sellers.
Overall, company insiders own 1.7 percent of shares.
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Shares of the uranium exploration and production company have slid 44 percent over the past year. The firm hasn’t had a fully profitable year yet, but revenues jumped 263 percent as uranium prices rose last year. However, that trend will likely slow down moving forward.
The company is now trading near its 52-week lows, after trading in a range for most of the past year.
Action to take: Investors interested in uranium may want to hold off for now, with prices trending down and the economy slowing. Uranium prices will likely drop in the coming months, which will put more pressure on shares.
For traders, the August $2.50 puts are near-the-money. Last going for about $0.35, they could deliver high double-digit returns in the months ahead on a further drop in shares.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.