USEC (USU) Stock Hits One-Year Low Prior to Emergence From Chapter 11

NEW YORK (TheStreet) -- Shares of USEC  (USU) plummeted to a 52-week low of $1.11 on Thursday less than one week before the enriched uranium producer's effective date to emerge from Chapter 11.

USEC said last week it plans to complete the last required steps to come out of the Chapter 11 restructuring on September 30 under the name Centrus Energy Corp. The new shares will trade under the symbol LEU.

The company confirmed its reorganization plan on September 5, the date of the last major court action in the Chapter 11 bankruptcy process that USEC started on March 5.

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More than 2.4 million shares had changed hands as of 3:23 p.m., which edged the average volume of 2,208,430.

Separately, TheStreet Ratings team rates USEC INC as a "sell" with a ratings score of E+. TheStreet Ratings Team has this to say about their recommendation:

"We rate USEC INC (USU) a SELL. This is based on the combination of unfavorable investment measures, which should drive this stock to significantly underperform the majority of stocks that we rate. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow, poor profit margins and generally disappointing historical performance in the stock itself."

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