enCore Energy (NASDAQ:EU) Stock Price Up 7.1% - What's Next?

Key Points

• enCore Energy Corp.'s stock price increased by 7.1%, trading at $2.80 after closing at $2.61, although trading volume was down by 44% from average levels.
• Several analysts have recently upgraded their ratings on the stock, with HC Wainwright and B. Riley setting a target price of $4.00 and rating it a "buy".
• The company's market capitalization stands at $522.93 million, with a negative PE ratio of -7.99 and a projected EPS of -0.2 for the current year.

enCore Energy Corp. (NASDAQ:EU - Get Free Report)'s stock price traded up 7.1% during mid-day trading on Friday . The company traded as high as $2.81 and last traded at $2.80. 1,515,660 shares changed hands during trading, a decline of 44% from the average session volume of 2,714,212 shares. The stock had previously closed at $2.61.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. HC Wainwright upped their target price on enCore Energy from $2.75 to $4.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. B. Riley began coverage on enCore Energy in a report on Wednesday, July 23rd. They issued a "buy" rating and a $4.00 price objective for the company. Zacks Research upgraded enCore Energy to a "hold" rating in a report on Tuesday, August 12th. Finally, Wall Street Zen lowered enCore Energy from a "hold" rating to a "sell" rating in a research report on Sunday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $4.00.

enCore Energy Price Performance

The company has a market capitalization of $522.93 million, a PE ratio of -7.99 and a beta of 1.84. The company has a 50-day moving average of $2.62 and a two-hundred day moving average of $2.09.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EU. Raymond James Financial Inc. boosted its holdings in shares of enCore Energy by 25.1% in the second quarter. Raymond James Financial Inc. now owns 19,968 shares of the company's stock valued at $57,000 after purchasing an additional 4,000 shares during the period. Bank of Montreal Can boosted its holdings 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 valued at $73,000 after purchasing an additional 6,666 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of 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. Tower Research Capital LLC TRC boosted its holdings in shares of enCore Energy by 88.0% in the second quarter. Tower Research Capital LLC TRC now owns 16,105 shares of the company's stock valued at $46,000 after purchasing an additional 7,540 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of enCore Energy by 68.9% in the second quarter. Prudential Financial Inc. now owns 20,550 shares of the company's stock valued at $59,000 after purchasing an additional 8,380 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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