enCore Energy (NASDAQ:EU) Raised to "Hold" at Zacks Research

Key Points

• enCore Energy (NASDAQ:EU) has been upgraded to a "hold" rating by Zacks Research, indicating a more cautious outlook on the stock.
• HC Wainwright raised their price target for enCore Energy from $2.75 to $4.00 and assigned a "buy" rating, reflecting increasing confidence in the company's valuation.
• The company's shares recently opened at $2.80, with a market cap of $523.88 million, and it reported earnings of ($0.07) per share for the last quarter, highlighting ongoing financial challenges.

enCore Energy (NASDAQ:EU - Get Free Report) was upgraded by Zacks Research to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages have also issued reports on EU. HC Wainwright lifted their price target on enCore Energy from $2.75 to $4.00 and gave the stock a "buy" rating in a research note on Tuesday. B. Riley started coverage on enCore Energy in a research note on Wednesday, July 23rd. They set a "buy" rating and a $4.00 price target for the company.

enCore Energy Price Performance

Shares of NASDAQ:EU opened at $2.80 on Tuesday. The company has a market capitalization of $523.88 million, a PE ratio of -8.00 and a beta of 1.85. The business has a fifty day moving average price of $2.67 and a two-hundred day moving average price of $2.17. enCore Energy has a 1 year low of $1.01 and a 1 year high of $4.44.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. grew its stake in shares of enCore Energy by 25.1% in the 2nd quarter. Raymond James Financial Inc. now owns 19,968 shares of the company's stock worth $57,000 after buying an additional 4,000 shares during the last quarter. Legal & General Group Plc lifted its position in enCore Energy by 17.7% in the 4th quarter. Legal & General Group Plc now owns 35,315 shares of the company's stock valued at $120,000 after acquiring an additional 5,322 shares in the last quarter. Bank of Montreal Can grew its stake in shares of enCore Energy by 35.6% in the second quarter. Bank of Montreal Can now owns 25,406 shares of the company's stock worth $73,000 after acquiring an additional 6,666 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of enCore Energy by 64.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,000 shares of the company's stock valued at $27,000 after buying an additional 7,461 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of enCore Energy by 7.2% during the 4th quarter. MetLife Investment Management LLC now owns 112,175 shares of the company's stock valued at $383,000 after buying an additional 7,532 shares during the period. Hedge funds and other institutional investors 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.

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