Tidal Investments LLC Makes New $2.75 Million Investment in enCore Energy Corp. $EU

Tidal Investments LLC purchased a new stake in enCore Energy Corp. (NASDAQ:EU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,103,384 shares of the company’s stock, valued at approximately $2,755,000.

A number of other hedge funds have also added to or reduced their stakes in EU. Bank of New York Mellon Corp purchased a new position in shares of enCore Energy during the second quarter valued at approximately $725,000. Hennion & Walsh Asset Management Inc. grew its position in enCore Energy by 90.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 236,373 shares of the company’s stock valued at $310,000 after buying an additional 112,130 shares during the period. Rathbones Group PLC purchased a new stake in shares of enCore Energy during the 1st quarter worth approximately $63,000. J. Derek Lewis & Associates Inc. increased its position in enCore Energy by 82.8% in the first quarter. J. Derek Lewis & Associates Inc. now owns 53,000 shares of the company’s stock worth $95,000 after buying an additional 24,000 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in enCore Energy by 154.5% in the 1st quarter. Royal Bank of Canada now owns 31,744 shares of the company’s stock valued at $57,000 after acquiring an additional 19,269 shares during the period. Institutional investors and hedge funds own 20.86% of the company’s stock.

enCore Energy Price Performance

enCore Energy stock opened at $0.93 on Wednesday. The company has a quick ratio of 6.84, a current ratio of 8.00 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $1.20 and a 200 day simple moving average of $1.55. The stock has a market cap of $180.68 million, a price-to-earnings ratio of -2.82 and a beta of 2.13. enCore Energy Corp. has a 52 week low of $0.77 and a 52 week high of $4.18.

enCore Energy (NASDAQ:EU) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.11). The company had revenue of $15.70 million for the quarter. enCore Energy had a negative return on equity of 28.00% and a negative net margin of 112.82%. On average, research analysts forecast that enCore Energy Corp. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Zacks Research cut shares of enCore Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Weiss Ratings lowered enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Jefferies Financial Group initiated coverage on enCore Energy in a research note on Thursday, September 3rd. They issued a “buy” rating and a $1.44 target price for the company. Finally, HC Wainwright reduced their target price on enCore Energy from $3.75 to $3.50 and set a “buy” rating for the company in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.90.

enCore Energy Profile

enCore Energy Corp. is a uranium exploration, development and production company focused on advancing domestic uranium resources in the United States. The company uses in-situ recovery (ISR) technology, which extracts uranium from suitable underground formations by circulating a solution through the deposit and processing the resulting uranium-bearing fluids at a recovery plant.

enCore’s portfolio includes uranium projects and production facilities in South Texas, including the Alta Mesa and Rosita projects.