enCore Energy (NASDAQ:EU) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded enCore Energy to “Hold” from “Strong Sell,” while analysts’ overall consensus remains “Moderate Buy” with an average price target of $2.90.
• enCore shares opened at $1.14, near their 50-day moving average of $1.16, but well below the 52-week high of $4.18. The company reported a quarterly loss of $0.21 per share, missing estimates by $0.11, and analysts expect a full-year loss of $0.41 per share.
• Insiders have been buying shares, including the chairman’s 100,000-share purchase at $0.81, while institutional investors own 20.86% of the stock.

enCore Energy (NASDAQ:EU - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of enCore Energy from a "hold" rating to a "strong sell" rating in a report on Saturday, September 26th. HC Wainwright cut their price target on shares of enCore Energy from $3.75 to $3.50 and set a "buy" rating on the stock in a research note on Friday, August 14th. 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. Finally, Jefferies Financial Group started coverage on shares of enCore Energy in a research note on Thursday, September 3rd. They issued a "buy" rating and a $1.44 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $2.90.

enCore Energy Price Performance

EU stock opened at $1.14 on Monday. The business has a 50 day moving average price of $1.16 and a 200 day moving average price of $1.44. 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 stock has a market cap of $221.48 million, a price-to-earnings ratio of -3.45 and a beta of 2.16. enCore Energy has a fifty-two week low of $0.77 and a fifty-two week high of $4.18.

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

Insider Buying and Selling

In other enCore Energy news, Chairman William Sheriff purchased 100,000 shares of enCore Energy stock in a transaction that occurred on Friday, September 18th. The stock was purchased at an average price of $0.81 per share, for a total transaction of $81,000.00. Following the transaction, the chairman directly owned 1,662,169 shares in the company, valued at $1,346,356.89. This trade represents a 6.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have acquired 310,000 shares of company stock valued at $262,100. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC acquired a new stake in shares of enCore Energy during the second quarter worth about $2,755,000. Bank of New York Mellon Corp purchased a new position in shares of enCore Energy during the second quarter worth about $725,000. Hennion & Walsh Asset Management Inc. increased its position in enCore Energy by 90.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 236,373 shares of the company's stock valued at $310,000 after acquiring an additional 112,130 shares during the period. Rathbones Group PLC acquired a new position in enCore Energy in the 1st quarter valued at about $63,000. Finally, J. Derek Lewis & Associates Inc. raised its stake in enCore Energy by 82.8% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 53,000 shares of the company's stock valued at $95,000 after acquiring an additional 24,000 shares during the last quarter. 20.86% of the stock is currently owned by institutional investors and hedge funds.

About enCore Energy

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.

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