Share price of USEC Inc (NYSE: USU), a low enriched uranium supplier, skyrocketed over 100% during the last trading session breaking all the key Daily Moving Averages (DMA) levels. The company’s shares jumped over 10% during the last two consecutive trading sessions with significant number of shares exchanging hands. During the last trading session, USU was the top gainer in the U.S. diversified metals & mining sector having gained 143.9% breaking the 30-day, 50-day and 200-day DMAs at $3.38, $3.42 & $5.69 respectively. The stock ended yesterday at $7.39 while recording huge volumes of 11.7 million shares. During the last 5-trading sessions, USU gained 153.1% with 5-day average trading volumes of 2.42 million shares, while the stock accumulated over 113% in the past one month with 30-day average volumes of 470,923 shares.
Recently, USU filed its 8-K filing with the Securities and Exchange Commission (SEC) regarding the additional funding of $2.5 million bringing total funding to approximately $16 million, from the US Department of Energy (DOE). The funding comes following an amendment to an agreement with UT-Battelle, LLC, a research lab operator, for further research on American Centrifuge technology. Moreover, responding to NYSE over the unusual trading activity during yesterday’s trading session; the company stated that its policy is not to comment on unusual market activity.
Company Description:
USEC Inc (NYSE: USU) is a global energy company that supplies low enriched uranium (“LEU”) for commercial nuclear power plants. The company, through its subsidiary, operates a uranium enrichment facility in Kentucky.
1-Year Stock Chart:
Source: Bloomberg
