enCore Energy (NASDAQ:EU) Lowered to "Strong Sell" Rating by Zacks Research

Key Points

• Zacks Research downgraded enCore Energy from “hold” to “strong sell,” adding to a mixed analyst picture for the uranium developer.
• The stock was down 2.4% and traded near its 52-week low at $1.22, well below its 200-day average of $2.07.
• Despite the downgrade, insider buying has continued: the chairman and a director recently bought shares, while the company’s analyst consensus remains “Moderate Buy” with a $3.83 target price.

enCore Energy (NASDAQ:EU - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday,Zacks.com reports.

EU has been the subject of several other reports. Weiss Ratings upgraded enCore Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, June 23rd. Northland Securities set a $3.75 price target on enCore Energy in a research note on Monday, May 18th. HC Wainwright dropped their price target on enCore Energy from $4.00 to $3.75 and set a "buy" rating for the company in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded enCore Energy from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $3.83.

enCore Energy Stock Down 2.4%

EU opened at $1.22 on Tuesday. enCore Energy has a twelve month low of $1.18 and a twelve month high of $4.18. The company has a quick ratio of 10.25, a current ratio of 11.08 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average price of $1.46 and a 200 day moving average price of $2.07. The company has a market cap of $236.99 million, a PE ratio of -8.13 and a beta of 2.06.

Insider Buying and Selling

In related news, Chairman William M. Sheriff purchased 50,000 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $1.49 per share, with a total value of $74,500.00. Following the completion of the acquisition, the chairman owned 1,387,169 shares in the company, valued at $2,066,881.81. This trade represents a 3.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wayne W. Heili acquired 35,000 shares of enCore Energy stock in a transaction that occurred on Friday, June 12th. The shares were bought 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 of the company's stock, valued at $50,400. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 259,905 shares of company stock valued at $362,534. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of enCore Energy

A number of hedge funds and other institutional investors have recently modified their holdings of EU. Brookstone Capital Management purchased a new position in shares of enCore Energy during the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of enCore Energy by 192.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,137 shares of the company's stock valued at $26,000 after purchasing an additional 5,356 shares during the period. Osaic Holdings Inc. acquired a new stake in enCore Energy during the second quarter worth about $29,000. Arax Advisory Partners increased its position in enCore Energy by 898.7% during the fourth quarter. Arax Advisory Partners now owns 11,545 shares of the company's stock worth $29,000 after purchasing an additional 10,389 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new position in enCore Energy during the fourth quarter worth about $29,000. 20.86% of the stock is owned by institutional investors and hedge funds.

enCore Energy Company Profile

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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