enCore Energy (NASDAQ:EU) Trading Down 5.4% - Time to Sell?

Shares of enCore Energy Corp. (NASDAQ:EU - Get Free Report) dropped 5.4% during mid-day trading on Tuesday . The stock traded as low as $2.73 and last traded at $2.74. Approximately 571,811 shares were traded during trading, a decline of 69% from the average daily volume of 1,826,508 shares. The stock had previously closed at $2.89.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a "buy" rating and set a $2.75 target price on shares of enCore Energy in a research note on Tuesday, May 13th.

enCore Energy Stock Performance

The firm's 50 day moving average price is $2.10 and its 200-day moving average price is $2.27. The firm has a market capitalization of $506.85 million, a PE ratio of -7.32 and a beta of 1.86.

enCore Energy (NASDAQ:EU - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The company had revenue of $18.24 million during the quarter, compared to analysts' expectations of $15.10 million. enCore Energy had a negative net margin of 142.32% and a negative return on equity of 16.08%. On average, equities research analysts expect that enCore Energy Corp. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On enCore Energy

Several institutional investors have recently modified their holdings of EU. Invesco Ltd. increased its stake in enCore Energy by 3.9% in the fourth quarter. Invesco Ltd. now owns 3,873,993 shares of the company's stock valued at $13,210,000 after purchasing an additional 145,459 shares during the period. Wells Fargo & Company MN increased its stake in enCore Energy by 44.9% in the fourth quarter. Wells Fargo & Company MN now owns 91,641 shares of the company's stock valued at $312,000 after purchasing an additional 28,392 shares during the period. Wellington Management Group LLP acquired a new position in enCore Energy in the fourth quarter valued at $69,000. AWM Investment Company Inc. increased its stake in enCore Energy by 118.1% in the fourth quarter. AWM Investment Company Inc. now owns 1,297,619 shares of the company's stock valued at $4,425,000 after purchasing an additional 702,619 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in enCore Energy in the fourth quarter valued at $38,000. 20.86% of the stock is owned by hedge funds and other institutional investors.

enCore Energy Company Profile

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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