enCore Energy (NASDAQ:EU) Rating Increased to Strong-Buy at B. Riley

B. Riley upgraded shares of enCore Energy (NASDAQ:EU - Free Report) to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

Separately, HC Wainwright reissued a "buy" rating and set a $2.75 target price on shares of enCore Energy in a research note on Tuesday, May 13th.

enCore Energy Trading Down 1.6%

NASDAQ EU traded down $0.05 on Tuesday, reaching $3.04. 1,949,213 shares of the company were exchanged, compared to its average volume of 2,666,692. enCore Energy has a fifty-two week low of $1.01 and a fifty-two week high of $4.44. The business's fifty day moving average price is $2.44 and its 200 day moving average price is $2.22. The stock has a market capitalization of $568.66 million, a P/E ratio of -8.22 and a beta of 1.86.

enCore Energy (NASDAQ:EU - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). enCore Energy had a negative net margin of 142.32% and a negative return on equity of 16.08%. The business had revenue of $18.24 million during the quarter, compared to analyst estimates of $15.10 million. Equities research analysts forecast that enCore Energy will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EU. Invesco Ltd. raised its holdings in enCore Energy by 3.9% during the fourth quarter. Invesco Ltd. now owns 3,873,993 shares of the company's stock worth $13,210,000 after purchasing an additional 145,459 shares during the last quarter. Wells Fargo & Company MN increased its position in enCore Energy by 44.9% during the fourth quarter. Wells Fargo & Company MN now owns 91,641 shares of the company's stock worth $312,000 after buying an additional 28,392 shares in the last quarter. Wellington Management Group LLP purchased a new position in enCore Energy during the fourth quarter worth $69,000. AWM Investment Company Inc. increased its position in enCore Energy by 118.1% during the fourth quarter. AWM Investment Company Inc. now owns 1,297,619 shares of the company's stock worth $4,425,000 after buying an additional 702,619 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in enCore Energy during the fourth quarter worth $38,000. Institutional investors and hedge funds own 20.86% of the company's stock.

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.