HC Wainwright Issues Pessimistic Forecast for enCore Energy (NASDAQ:EU) Stock Price

enCore Energy (NASDAQ:EU) had its target price decreased by investment analysts at HC Wainwright from $7.00 to $2.75 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 78.57% from the stock’s previous close.

enCore Energy Stock Performance

Shares of EU opened at $1.54 on Tuesday. The stock has a fifty day moving average of $2.75 and a 200-day moving average of $3.39. enCore Energy has a 52 week low of $1.26 and a 52 week high of $5.05. The stock has a market capitalization of $286.84 million, a price-to-earnings ratio of -5.50 and a beta of 0.38.

enCore Energy (NASDAQ:EU) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $13.36 million for the quarter, compared to analysts’ expectations of $14.30 million. As a group, equities analysts forecast that enCore Energy will post -0.2 EPS for the current year.

Insider Buying and Selling

In related news, Chairman William M. Sheriff sold 24,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.20, for a total transaction of $76,800.00. Following the completion of the sale, the chairman now owns 2,120,055 shares in the company, valued at approximately $6,784,176. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On enCore Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in enCore Energy by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 81,173 shares of the company’s stock worth $328,000 after purchasing an additional 5,067 shares during the last quarter. Legal & General Group Plc raised its stake in shares of enCore Energy by 17.7% during the 4th quarter. Legal & General Group Plc now owns 35,315 shares of the company’s stock worth $120,000 after purchasing an additional 5,322 shares during the period. NFP Retirement Inc. boosted its holdings in shares of enCore Energy by 27.3% in the 4th quarter. NFP Retirement Inc. now owns 28,000 shares of the company’s stock worth $95,000 after buying an additional 6,000 shares during the last quarter. MetLife Investment Management LLC grew its position in enCore Energy by 7.2% during the fourth quarter. MetLife Investment Management LLC now owns 112,175 shares of the company’s stock valued at $383,000 after buying an additional 7,532 shares during the period. Finally, SG Americas Securities LLC increased its holdings in enCore Energy by 10.2% during the fourth quarter. SG Americas Securities LLC now owns 113,517 shares of the company’s stock worth $387,000 after buying an additional 10,469 shares during the last quarter. Hedge funds and other institutional investors own 20.86% of the company’s stock.

About enCore Energy

enCore Energy Corp. engages in the acquisition, exploration, and development of uranium resource properties in the United States. It holds a 100% interest in Crownpoint and Hosta Butte uranium project area covers 3,020 acres located in the Grants Uranium Belt, New Mexico. The company also holds interest in the Marquez-Juan Tafoya property comprises 14,582 acres located in McKinley and Sandoval counties of New Mexico; and the Nose Rock project comprising 42 owned unpatented lode mining claims comprising approximately 800 acres located in McKinley County, New Mexico.