Equities researchers at Dahlman Rose cut their target price on shares of Uranium Resources (NASDAQ: URRE)
The analysts wrote, ?We?ve updated our model to account for recent issuances and a reverse split. URRE completed a capital raise to complete its acquisition of Neutron Energy during 3Q and made additional sales from its ATM during 3Q and early 4Q. The company completed a 1-for-10 reverse split in mid-January in order to regain compliance with NASDAQ?s minimum bid requirement and also recently completed a rights offering for the issuance of approx 3.4MM shares. URRE?s ATM agreement had a total of $9MM available for future issuance as of Oct 31.? Uranium Resources traded up 5.16% on Friday, hitting $2.8499. Uranium Resources has a 1-year low of $2.55 and a 1-year high of $10.30. The stock?s 50-day moving average is currently $3.14. The company?s market cap is $45.9 million.
Uranium Resources, Inc. (URI) is a uranium exploration, mine development and production company. It is engaged in acquiring and developing uranium mines in South Texas using the in-situ recovery mining process (ISR).