enCore Energy Corp. (NASDAQ:EU) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts hold a mixed view of enCore Energy: two rate the stock “sell,” two “buy,” and one “strong buy,” resulting in a consensus “Hold” rating. The average 12-month price target is $2.8967.
• Shares opened at $1.22, near the 52-week low of $1.03 and well below the 52-week high of $4.18. The company reported a quarterly loss of $0.21 per share, missing the consensus estimate of a $0.10 loss.
• Insiders purchased 184,905 shares worth about $251,284 during the latest quarter, while institutional investors own 20.86% of the stock.

enCore Energy Corp. (NASDAQ:EU - Get Free Report) has received a consensus rating of "Hold" from the five analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $2.8967.

Several equities research analysts have recently issued reports on EU shares. Zacks Research downgraded enCore Energy from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded shares of enCore Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, June 23rd. HC Wainwright dropped their price objective on enCore Energy from $3.75 to $3.50 and set a "buy" rating on the stock in a research note on Friday, August 14th. Jefferies Financial Group assumed coverage on shares of enCore Energy in a report on Thursday. They issued a "buy" rating and a $1.44 price target on the stock. Finally, Wall Street Zen upgraded enCore Energy from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th.

enCore Energy Trading Up 2.5%

NASDAQ EU opened at $1.22 on Thursday. The firm has a 50-day moving average price of $1.23 and a 200 day moving average price of $1.64. 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 capitalization of $237.02 million, a P/E ratio of -3.70 and a beta of 2.13. enCore Energy has a 52-week low of $1.03 and a 52-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). The firm 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%. Equities research analysts expect that enCore Energy will post -0.41 EPS for the current year.

Insiders Place Their Bets

In related news, Director Wayne W. Heili acquired 35,000 shares of the stock in a transaction on Friday, June 12th. The shares were acquired at an average price of $1.44 per share, for a total transaction of $50,400.00. Following the transaction, the director owned 35,000 shares in the company, valued at approximately $50,400. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark S. Pelizza purchased 99,182 shares of enCore Energy stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $1.37 per share, for a total transaction of $135,879.34. Following the acquisition, the director owned 237,515 shares in the company, valued at approximately $325,395.55. This trade represents a 71.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 184,905 shares of company stock valued at $251,284. Insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On enCore Energy

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its holdings in shares of enCore Energy by 13.2% in the 1st quarter. NewEdge Advisors LLC now owns 294,405 shares of the company's stock worth $403,000 after acquiring an additional 34,250 shares during the last quarter. Creative Planning raised its position in shares of enCore Energy by 66.1% during the 2nd quarter. Creative Planning now owns 24,162 shares of the company's stock valued at $69,000 after acquiring an additional 9,612 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of enCore Energy by 68.9% during the second quarter. Prudential Financial Inc. now owns 20,550 shares of the company's stock worth $59,000 after acquiring an additional 8,380 shares during the period. Marshall Wace LLP grew its stake in enCore Energy by 293.9% in the second quarter. Marshall Wace LLP now owns 1,262,065 shares of the company's stock valued at $3,610,000 after purchasing an additional 941,691 shares in the last quarter. Finally, Main Street Financial Solutions LLC bought a new position in enCore Energy during the second quarter worth $87,000. 20.86% of the stock is currently owned by institutional investors.

About enCore Energy

enCore Energy Inc is a U.S.-based uranium exploration and development company focused on deploying in-situ recovery (ISR) technology to bring domestic uranium projects into production. The company's operations are centered on the Nichols Ranch ISR facility in Wyoming, which represents enCore's flagship asset and its nearest-term production opportunity. Through ISR methods, enCore seeks to extract uranium with lower environmental impact and capital requirements relative to conventional mining.

In addition to Nichols Ranch, enCore holds a diversified portfolio of uranium properties in the western United States, including the Roca Honda project in New Mexico and several ISR-amenable projects in the Texas and Oklahoma regions.

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