enCore Energy (NASDAQ:EU) Trading Down 3.6% - Here's What Happened

Key Points

• enCore Energy Corp. (NASDAQ:EU) saw its stock price drop by 3.6% to $3.10, with trading volume decreasing 91% from the average session volume.
• Brokerage firms have issued varying ratings on enCore, with a consensus rating of "Buy" and a price target of $4.00.
• The company's latest quarterly earnings report showed a loss of ($0.07) EPS and revenue of $3.66 million, indicating ongoing financial challenges.

enCore Energy Corp. (NASDAQ:EU - Get Free Report)'s stock price fell 3.6% on Wednesday . The stock traded as low as $3.12 and last traded at $3.10. 253,948 shares were traded during mid-day trading, a decline of 91% from the average session volume of 2,836,425 shares. The stock had previously closed at $3.21.

Analyst Ratings Changes

Several brokerages recently weighed in on EU. B. Riley began coverage on shares of enCore Energy in a report on Wednesday, July 23rd. They issued a "buy" rating and a $4.00 target price on the stock. Wall Street Zen raised shares of enCore Energy from a "sell" rating to a "hold" rating in a report on Monday, September 22nd. Zacks Research raised shares of enCore Energy to a "hold" rating in a report on Tuesday, August 12th. Finally, HC Wainwright raised their price objective on shares of enCore Energy from $2.75 to $4.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. One research 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 MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $4.00.

enCore Energy Trading Down 2.3%

The firm has a market capitalization of $586.54 million, a price-to-earnings ratio of -8.94 and a beta of 1.84. The business's fifty day moving average price is $2.64 and its 200 day moving average price is $2.18.

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 (EPS) for the quarter. The firm had revenue of $3.66 million during the quarter. enCore Energy had a negative net margin of 143.28% and a negative return on equity of 19.23%. As a group, sell-side analysts forecast that enCore Energy Corp. will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On enCore Energy

Several institutional investors have recently bought and sold shares of EU. Boundary Creek Advisors LP acquired a new position in enCore Energy in the 1st quarter valued at $2,898,000. MMCAP International Inc. SPC grew its stake in shares of 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 period. Marshall Wace LLP grew its stake in shares of enCore Energy by 293.9% during the 2nd quarter. Marshall Wace LLP now owns 1,262,065 shares of the company's stock worth $3,610,000 after purchasing an additional 941,691 shares during the period. Vident Advisory LLC grew its stake in shares of enCore Energy by 32.9% during the 2nd quarter. Vident Advisory LLC now owns 3,172,762 shares of the company's stock worth $9,045,000 after purchasing an additional 785,568 shares during the period. Finally, Nuveen LLC acquired a new position in shares of enCore Energy during the 1st quarter worth $662,000. 20.86% of the stock is owned by institutional investors and hedge funds.

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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