enCore Energy (NASDAQ:EU) Stock Price Up 9.5% - What's Next?

enCore Energy Corp. (NASDAQ:EU - Get Free Report) was up 9.5% during mid-day trading on Thursday . The company traded as high as $2.70 and last traded at $2.71. Approximately 3,466,461 shares were traded during mid-day trading, an increase of 95% from the average daily volume of 1,775,763 shares. The stock had previously closed at $2.47.

Wall Street Analyst Weigh In

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

enCore Energy Stock Performance

The firm has a market cap of $495.63 million, a P/E ratio of -7.16 and a beta of 1.54. The company's 50 day moving average is $1.93 and its 200 day moving average is $2.29.

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

Insider Buying and Selling at enCore Energy

In other enCore Energy news, Chairman William M. Sheriff purchased 40,000 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $1.21 per share, for a total transaction of $48,400.00. Following the transaction, the chairman now owns 2,310,055 shares in the company, valued at $2,795,166.55. The trade was a 1.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On enCore Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boundary Creek Advisors LP acquired a new position in enCore Energy in the first quarter valued at $2,898,000. MMCAP International Inc. SPC lifted its holdings in enCore Energy by 66.0% in the first quarter. MMCAP International Inc. SPC now owns 3,819,501 shares of the company's stock valued at $5,232,000 after buying an additional 1,517,992 shares during the period. Yaupon Capital Management LP acquired a new position in enCore Energy in the fourth quarter valued at $3,415,000. AWM Investment Company Inc. lifted its holdings in enCore Energy by 118.1% in the fourth quarter. AWM Investment Company Inc. now owns 1,297,619 shares of the company's stock valued at $4,425,000 after buying an additional 702,619 shares during the period. Finally, Nuveen LLC acquired a new position in enCore Energy in the first quarter valued at $662,000. 20.86% of the stock is currently owned by institutional investors and hedge funds.

enCore Energy Company Profile

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.