enCore Energy (NASDAQ:EU) Stock Rating Lowered by Wall Street Zen

Key Points

• enCore Energy has been downgraded from a "hold" to a "sell" rating by analysts at Wall Street Zen.
• The stock currently has a consensus rating of "Buy" with a price target of $4.00 from other research analysts.
• enCore Energy's stock has declined 4.7% and has a market cap of approximately $417.22 million.

enCore Energy (NASDAQ:EU - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Sunday.

EU has been the topic of several other research reports. B. Riley started coverage on shares of enCore Energy in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $4.00 price target on the stock. HC Wainwright lifted their target price on enCore Energy from $2.75 to $4.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, Zacks Research raised enCore Energy to a "hold" rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $4.00.

enCore Energy Stock Up 13.0%

EU stock traded up $0.29 during trading on Friday, reaching $2.52. The company's stock had a trading volume of 8,357,333 shares, compared to its average volume of 4,614,287. enCore Energy has a 1 year low of $1.01 and a 1 year high of $4.44. The company has a market capitalization of $471.49 million, a P/E ratio of -7.20 and a beta of 1.84. The company's fifty day moving average is $2.62 and its 200-day moving average is $2.08.

enCore Energy (NASDAQ:EU - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.07) earnings per share (EPS) 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 during the quarter. Analysts anticipate that enCore Energy will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Northern Trust Corp increased its position in shares of enCore Energy by 5.5% during the fourth quarter. Northern Trust Corp now owns 1,133,177 shares of the company's stock worth $3,864,000 after purchasing an additional 59,343 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of enCore Energy in the fourth quarter valued at about $73,000. Bank of America Corp DE raised its position in shares of 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 buying an additional 14,934 shares during the last quarter. Deutsche Bank AG raised its position in shares of enCore Energy by 57.6% in the fourth quarter. Deutsche Bank AG now owns 155,897 shares of the company's stock valued at $532,000 after buying an additional 56,957 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of enCore Energy by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 51,134 shares of the company's stock valued at $174,000 after buying an additional 16,823 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.