enCore Energy Corp. (NASDAQ:EU) Short Interest Update

Key Points

• Short Interest Surge: enCore Energy Corp. experienced a significant increase in short interest, rising 79.7% to 26,560,000 shares by August 31, representing 14.6% of its total shares.
• Institutional Investments: Institutional investors have been active, with Boundary Creek Advisors and others increasing their stakes significantly, indicating growing institutional interest in the company.
• Stock Performance: The stock traded down 4.7% to $2.23, with analysts expecting a consensus rating of "Buy" and an average target price of $4.00.

enCore Energy Corp. (NASDAQ:EU - Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 26,560,000 shares, a growth of 79.7% from the August 15th total of 14,780,000 shares. Based on an average trading volume of 3,430,000 shares, the days-to-cover ratio is presently 7.7 days. Currently, 14.6% of the company's shares are sold short. Currently, 14.6% of the company's shares are sold short. Based on an average trading volume of 3,430,000 shares, the days-to-cover ratio is presently 7.7 days.

Hedge Funds Weigh In On enCore Energy

Several institutional investors have recently made changes to their positions in EU. Boundary Creek Advisors LP purchased a new position in shares of enCore Energy during the 1st quarter valued at approximately $2,898,000. MMCAP International Inc. SPC increased its holdings in shares of enCore Energy by 66.0% during the 1st quarter. MMCAP International Inc. SPC now owns 3,819,501 shares of the company's stock valued at $5,232,000 after purchasing an additional 1,517,992 shares in the last quarter. Marshall Wace LLP increased its holdings in enCore Energy by 293.9% in the 2nd quarter. Marshall Wace LLP now owns 1,262,065 shares of the company's stock worth $3,610,000 after acquiring an additional 941,691 shares in the last quarter. Vident Advisory LLC increased its holdings in enCore Energy by 32.9% in the 2nd quarter. Vident Advisory LLC now owns 3,172,762 shares of the company's stock worth $9,045,000 after acquiring an additional 785,568 shares in the last quarter. Finally, AWM Investment Company Inc. increased its holdings in enCore Energy by 118.1% in the 4th quarter. AWM Investment Company Inc. now owns 1,297,619 shares of the company's stock worth $4,425,000 after acquiring an additional 702,619 shares in the last quarter. 20.86% of the stock is owned by hedge funds and other institutional investors.

enCore Energy Trading Down 4.7%

EU stock traded down $0.11 during midday trading on Friday, reaching $2.23. 2,167,310 shares of the company's stock traded hands, compared to its average volume of 4,614,287. The stock's 50-day moving average is $2.63 and its 200 day moving average is $2.08. enCore Energy has a 52-week low of $1.01 and a 52-week high of $4.44. The stock has a market cap of $417.23 million, a P/E ratio of -6.37 and a beta of 1.84.

enCore Energy (NASDAQ:EU - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $3.66 million for the quarter. enCore Energy had a negative net margin of 143.28% and a negative return on equity of 19.23%. As a group, research analysts expect that enCore Energy will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

EU has been the topic of a number of research reports. B. Riley initiated coverage on shares of enCore Energy in a research note on Wednesday, July 23rd. They set a "buy" rating and a $4.00 target price on the stock. Zacks Research raised shares of enCore Energy to a "hold" rating in a research note on Tuesday, August 12th. Wall Street Zen lowered shares of enCore Energy from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, HC Wainwright lifted their target price on shares of enCore Energy from $2.75 to $4.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $4.00.

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.

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