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

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) shares traded up 7.1% during mid-day trading on Friday . The stock traded as high as $2.81 and last traded at $2.80. 1,515,660 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 2,714,212 shares. The stock had previously closed at $2.61.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. HC Wainwright lifted their price objective on enCore Energy from $2.75 to $4.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded enCore Energy from a "sell" rating to a "hold" rating in a research note on Monday. B. Riley started coverage on enCore Energy in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $4.00 price objective for the company. Finally, Zacks Research upgraded enCore Energy to a "hold" rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, enCore Energy presently has a consensus rating of "Buy" and a consensus price target of $4.00.

enCore Energy Stock Up 3.9%

The stock has a fifty day moving average price of $2.62 and a 200-day moving average price of $2.11.

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

Institutional Trading of enCore Energy

Large investors have recently bought and sold shares of the company. Nuveen LLC acquired a new stake in enCore Energy in the first quarter valued at $662,000. Wellington Management Group LLP acquired a new stake in enCore Energy in the fourth quarter valued at $69,000. Boundary Creek Advisors LP acquired a new stake in enCore Energy in the first quarter valued at $2,898,000. Bank of America Corp DE grew its holdings in enCore Energy by 9.4% in the fourth quarter. Bank of America Corp DE now owns 174,301 shares of the company's stock valued at $594,000 after purchasing an additional 14,934 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in enCore Energy in the fourth quarter valued at $73,000. 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.