Short Interest in enCore Energy Corp. (NASDAQ:EU) Expands By 18.1%

enCore Energy Corp. (NASDAQ:EU) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 4,700,000 shares, an increase of 18.1% from the June 15th total of 3,980,000 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average trading volume of 1,170,000 shares, the short-interest ratio is currently 4.0 days.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EU shares. B. Riley restated a “buy” rating and set a $6.00 target price on shares of enCore Energy in a research note on Wednesday, May 15th. HC Wainwright restated a “buy” rating and set a $7.50 price objective on shares of enCore Energy in a report on Friday, June 14th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EU. Azarias Capital Management L.P. grew its stake in shares of enCore Energy by 232.0% in the 1st quarter. Azarias Capital Management L.P. now owns 3,758,493 shares of the company’s stock valued at $18,013,000 after buying an additional 2,626,395 shares during the period. MMCAP International Inc. SPC bought a new position in shares of enCore Energy in the 1st quarter worth $11,055,000. Fourth Sail Capital LP acquired a new stake in enCore Energy in the 4th quarter valued at $5,519,000. Van ECK Associates Corp bought a new stake in enCore Energy during the 1st quarter valued at $3,399,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of enCore Energy by 7.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,260,952 shares of the company’s stock valued at $32,640,000 after buying an additional 541,050 shares during the last quarter. 20.86% of the stock is owned by institutional investors.

enCore Energy Stock Performance

EU stock opened at $4.37 on Wednesday. The stock’s 50 day moving average is $4.34. The firm has a market cap of $805.83 million, a PE ratio of -33.62 and a beta of -0.01. enCore Energy has a 1 year low of $2.17 and a 1 year high of $5.05.

enCore Energy (NASDAQ:EU) last posted its earnings results on Friday, May 10th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $30.40 million for the quarter, compared to analyst estimates of $3.30 million. On average, analysts predict that enCore Energy will post -0.05 EPS for the current fiscal year.

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.