enCore Energy (NASDAQ:EU) Trading Up 6.8% – Here’s What Happened

Shares of enCore Energy Corp. (NASDAQ:EU) traded up 6.8% during trading on Wednesday . The company traded as high as $3.56 and last traded at $3.5550. 1,987,264 shares were traded during trading, a decline of 40% from the average session volume of 3,307,727 shares. The stock had previously closed at $3.33.

Analyst Ratings Changes

A number of brokerages recently commented on EU. Wall Street Zen cut shares of enCore Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of enCore Energy in a report on Wednesday, January 21st. Finally, Northland Securities initiated coverage on shares of enCore Energy in a research report on Tuesday, January 6th. They issued an “outperform” rating and a $3.50 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, enCore Energy has a consensus rating of “Moderate Buy” and a consensus price target of $3.83.

enCore Energy Stock Down 10.7%

The company has a debt-to-equity ratio of 0.39, a current ratio of 13.64 and a quick ratio of 12.48. The firm has a market capitalization of $596.35 million, a price-to-earnings ratio of -11.36 and a beta of 2.04. The business has a 50 day moving average of $2.82 and a 200 day moving average of $2.82.

enCore Energy (NASDAQ:EU) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.07) earnings per share for the quarter. The company had revenue of $8.88 million for the quarter. enCore Energy had a negative net margin of 118.78% and a negative return on equity of 19.83%. On average, equities analysts anticipate that enCore Energy Corp. will post -0.2 EPS for the current year.

Insider Buying and Selling at enCore Energy

In other news, insider William M. Sheriff sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $2.81, for a total value of $28,100.00. Following the completion of the sale, the insider directly owned 2,876 shares in the company, valued at approximately $8,081.56. This trade represents a 77.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 74,500 shares of company stock valued at $188,510 in the last three months. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EU. Van ECK Associates Corp lifted its position in enCore Energy by 76.7% in the 3rd quarter. Van ECK Associates Corp now owns 15,972,156 shares of the company’s stock valued at $51,271,000 after acquiring an additional 6,933,454 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of enCore Energy by 5.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,798,779 shares of the company’s stock valued at $34,846,000 after purchasing an additional 582,974 shares in the last quarter. MMCAP International Inc. SPC boosted its position in shares of enCore Energy by 13.0% during the third quarter. MMCAP International Inc. SPC now owns 4,316,838 shares of the company’s stock worth $13,857,000 after buying an additional 497,337 shares during the period. Azarias Capital Management L.P. grew its holdings in shares of enCore Energy by 2.5% during the fourth quarter. Azarias Capital Management L.P. now owns 4,132,851 shares of the company’s stock worth $10,249,000 after buying an additional 99,912 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in shares of enCore Energy by 3.8% during the 3rd quarter. Vident Advisory LLC now owns 3,293,914 shares of the company’s stock worth $10,629,000 after acquiring an additional 121,152 shares in the last quarter. 20.86% of the stock is owned by institutional investors and hedge funds.

enCore Energy Company Profile

enCore Energy Inc is a U.S.-based uranium exploration and development company focused on deploying in-situ recovery (ISR) technology to bring domestic uranium projects into production. The company’s operations are centered on the Nichols Ranch ISR facility in Wyoming, which represents enCore’s flagship asset and its nearest-term production opportunity. Through ISR methods, enCore seeks to extract uranium with lower environmental impact and capital requirements relative to conventional mining.

In addition to Nichols Ranch, enCore holds a diversified portfolio of uranium properties in the western United States, including the Roca Honda project in New Mexico and several ISR-amenable projects in the Texas and Oklahoma regions.