enCore Energy (NASDAQ:EU) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of enCore Energy (NASDAQ:EU) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks reports.

Several other brokerages have also recently weighed in on EU. Weiss Ratings cut shares of enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 14th. Jefferies Financial Group assumed coverage on enCore Energy in a research note on Thursday, September 3rd. They issued a “buy” rating and a $1.44 price objective for the company. HC Wainwright reduced their target price on shares of enCore Energy from $3.75 to $3.50 and set a “buy” rating for the company in a research report on Friday, August 14th. Finally, Wall Street Zen lowered enCore Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, enCore Energy has a consensus rating of “Moderate Buy” and an average price target of $2.90.

enCore Energy Price Performance

enCore Energy stock opened at $1.14 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.00 and a quick ratio of 6.84. enCore Energy has a one year low of $0.77 and a one year high of $4.18. The stock’s 50 day moving average is $1.16 and its 200 day moving average is $1.44. The firm has a market cap of $221.48 million, a P/E ratio of -3.45 and a beta of 2.16.

enCore Energy (NASDAQ:EU) last released its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.11). The firm had revenue of $15.70 million during the quarter. enCore Energy had a negative net margin of 112.82% and a negative return on equity of 28.00%. As a group, research analysts expect that enCore Energy will post -0.41 EPS for the current year.

Insider Buying and Selling at enCore Energy

In other news, Chairman William Sheriff bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were bought at an average cost of $0.81 per share, with a total value of $81,000.00. Following the completion of the purchase, the chairman directly owned 1,662,169 shares in the company, valued at $1,346,356.89. This represents a 6.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders bought 310,000 shares of company stock valued at $262,100. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On enCore Energy

A number of hedge funds have recently modified their holdings of the company. Brookstone Capital Management purchased a new stake in shares of enCore Energy during the first quarter worth about $26,000. Krilogy Financial LLC purchased a new position in enCore Energy during the 1st quarter valued at about $36,000. Sanctuary Advisors LLC increased its holdings in enCore Energy by 37.7% during the 1st quarter. Sanctuary Advisors LLC now owns 24,138 shares of the company’s stock valued at $43,000 after purchasing an additional 6,608 shares during the period. J. Derek Lewis & Associates Inc. bought a new position in enCore Energy during the 4th quarter valued at approximately $72,000. Finally, Royal Bank of Canada lifted its holdings in enCore Energy by 154.5% in the 1st quarter. Royal Bank of Canada now owns 31,744 shares of the company’s stock worth $57,000 after buying an additional 19,269 shares during the period. Hedge funds and other institutional investors own 20.86% of the company’s stock.

enCore Energy Company Profile

enCore Energy Corp. is a uranium company focused on the exploration, development and production of uranium in the United States. The company uses in-situ recovery (ISR), a method that extracts uranium from underground deposits by circulating a solution through the host formation and processing the recovered material at licensed facilities.

enCore’s portfolio is concentrated in South Texas and includes the Rosita and Alta Mesa uranium processing facilities, along with associated well fields, mineral rights and development projects.