Wall Street Zen Downgrades enCore Energy (NASDAQ:EU) to Strong Sell

Key Points

• Wall Street Zen downgraded enCore Energy from “hold” to “strong sell,” while other analyst opinions remain mixed; MarketBeat reports an overall “hold” rating and an average price target of $2.90.
• enCore Energy reported quarterly EPS of -$0.21, missing the consensus estimate of -$0.10, alongside a negative net margin of 112.82%; analysts expect full-year EPS of -$0.41.
• The stock opened at $1.24, with a market capitalization of about $240.9 million and a 52-week range of $0.77 to $4.18. Chairman William Sheriff and other insiders bought a combined 310,000 shares during the latest quarter.

enCore Energy (NASDAQ:EU - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "strong sell" rating in a report issued on Saturday, Wall Street Zen reports.

EU has been the topic of a number of other reports. HC Wainwright reduced their target price on shares of enCore Energy from $3.75 to $3.50 and set a "buy" rating on the stock in a report on Friday, August 14th. Jefferies Financial Group started coverage on shares of enCore Energy in a report on Thursday, September 3rd. They issued a "buy" rating and a $1.44 price target for the company. Weiss Ratings lowered enCore Energy from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, September 14th. Finally, Zacks Research cut enCore Energy from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 14th. One equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $2.90.

enCore Energy Trading Up 1.6%

EU stock opened at $1.24 on Friday. The firm has a fifty day moving average price of $1.17 and a 200 day moving average price of $1.49. enCore Energy has a fifty-two week low of $0.77 and a fifty-two week high of $4.18. The firm has a market cap of $240.91 million, a PE ratio of -3.76 and a beta of 2.13. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.84 and a current ratio of 8.00.

enCore Energy (NASDAQ:EU - Get Free Report) last released its quarterly earnings results 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). enCore Energy had a negative net margin of 112.82% and a negative return on equity of 28.00%. The business had revenue of $15.70 million for the quarter. Sell-side analysts anticipate that enCore Energy will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman William Sheriff bought 100,000 shares of enCore Energy stock in a transaction dated Monday, September 14th. The shares were acquired at an average price of $0.84 per share, with a total value of $84,000.00. Following the completion of the purchase, the chairman owned 1,512,169 shares in the company, valued at $1,270,221.96. The trade was a 7.08% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 310,000 shares of company stock worth $262,100 in the last quarter. Insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On enCore Energy

Several hedge funds have recently added to or reduced their stakes in the company. Brookstone Capital Management bought a new stake in enCore Energy in the first quarter worth about $26,000. Krilogy Financial LLC bought a new position in shares of enCore Energy during the first quarter valued at approximately $36,000. Sanctuary Advisors LLC grew its stake in shares of enCore Energy by 37.7% during the first quarter. Sanctuary Advisors LLC now owns 24,138 shares of the company's stock valued at $43,000 after buying an additional 6,608 shares during the last quarter. J. Derek Lewis & Associates Inc. purchased a new stake in shares of enCore Energy in the fourth quarter worth approximately $72,000. Finally, Royal Bank of Canada raised its holdings in shares of enCore Energy by 154.5% in the first 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. 20.86% of the stock is currently owned by institutional investors.

About enCore Energy

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.

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