enCore Energy (NASDAQ:EU) Shares Up 9.5% - Here's What Happened

enCore Energy Corp. (NASDAQ:EU - Get Free Report)'s stock price was up 9.5% on Thursday . The stock traded as high as $2.70 and last traded at $2.71. Approximately 3,466,461 shares changed hands during 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 Analysts Forecast Growth

Separately, HC Wainwright reiterated a "buy" rating and issued a $2.75 price objective on shares of enCore Energy in a research note on Tuesday, May 13th.

enCore Energy Stock Up 9.7%

The stock has a market cap of $506.85 million, a PE ratio of -7.32 and a beta of 1.54. The business has a 50 day moving average price of $1.88 and a 200 day moving average price of $2.32.

enCore Energy (NASDAQ:EU - Get Free Report) last released 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 analysts' expectations of $15.10 million. enCore Energy had a negative return on equity of 16.08% and a negative net margin of 142.32%. On average, research analysts predict that enCore Energy Corp. will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at enCore Energy

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

Institutional Trading of enCore Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in enCore Energy by 64.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,000 shares of the company's stock valued at $27,000 after purchasing an additional 7,461 shares during the period. Compound Planning Inc. acquired a new stake in enCore Energy in the 1st quarter valued at about $27,000. Virtu Financial LLC purchased a new position in shares of enCore Energy in the 1st quarter valued at about $35,000. Sovran Advisors LLC acquired a new position in shares of enCore Energy during the first quarter worth about $36,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of enCore Energy during the fourth quarter worth approximately $38,000. 20.86% of the stock is currently owned by hedge funds and other institutional investors.

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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