HC Wainwright Raises enCore Energy (NASDAQ:EU) Price Target to $4.00

Key Points

• HC Wainwright has increased its target price for enCore Energy from $2.75 to $4.00, suggesting a potential upside of 47.60% from the last closing price.
• B. Riley has also initiated coverage on enCore Energy with a "buy" rating and a target price of $4.00.
• Institutional investors and hedge funds purchased additional shares, indicating increased interest in enCore Energy, which now has 20.86% of its stock owned by these groups.

enCore Energy (NASDAQ:EU - Get Free Report) had its price objective upped by equities research analysts at HC Wainwright from $2.75 to $4.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 42.86% from the company's previous close. HC Wainwright also issued estimates for enCore Energy's FY2025 earnings at ($0.26) EPS.

Separately, 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 price objective on the stock.

enCore Energy Price Performance

EU remained flat at $2.80 during trading on Tuesday. 1,439,743 shares of the company's stock were exchanged, compared to its average volume of 2,276,788. enCore Energy has a 12 month low of $1.01 and a 12 month high of $4.44. The stock has a market capitalization of $523.88 million, a PE ratio of -8.00 and a beta of 1.85. The stock has a 50-day moving average of $2.67 and a two-hundred day moving average of $2.17.

enCore Energy (NASDAQ:EU - Get Free Report) last posted 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 return on equity of 19.23% and a negative net margin of 143.28%. As a group, analysts predict that enCore Energy will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On enCore Energy

A number of institutional investors have recently added to or reduced their stakes in EU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in enCore Energy by 1.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,702,287 shares of the company's stock worth $42,839,000 after purchasing an additional 165,082 shares during the last quarter. Invesco Ltd. boosted its stake in enCore Energy by 3.9% during the 4th quarter. Invesco Ltd. now owns 3,873,993 shares of the company's stock worth $13,210,000 after purchasing an additional 145,459 shares during the last quarter. MMCAP International Inc. SPC boosted its stake in enCore Energy by 66.0% during the 1st quarter. MMCAP International Inc. SPC now owns 3,819,501 shares of the company's stock worth $5,232,000 after purchasing an additional 1,517,992 shares during the last quarter. Vident Advisory LLC boosted its stake in enCore Energy by 21.8% during the 1st quarter. Vident Advisory LLC now owns 2,387,194 shares of the company's stock worth $3,185,000 after purchasing an additional 427,019 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in enCore Energy by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,371,758 shares of the company's stock worth $6,783,000 after purchasing an additional 139,010 shares during the last quarter. Institutional investors and hedge funds 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.