enCore Energy (NASDAQ:EU) Shares Down 8.6% - Should You Sell?

Key Points

• enCore Energy's stock price fell 8.6% to $2.79, with a trading volume decline of 84% from the average session volume.
• Analysts from HC Wainwright reiterated a "buy" rating with a price target of $2.75, while B. Riley set a higher target at $4.00.
• The company reported a quarterly loss of ($0.08) EPS, missing estimates but exceeded revenue expectations with $18.24 million in revenue.

enCore Energy Corp. (NASDAQ:EU - Get Free Report) fell 8.6% during mid-day trading on Tuesday . The company traded as low as $2.80 and last traded at $2.79. 383,984 shares traded hands during trading, a decline of 84% from the average session volume of 2,432,040 shares. The stock had previously closed at $3.05.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EU. B. Riley began coverage on enCore Energy in a research report on Wednesday, July 23rd. They set a "buy" rating and a $4.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $2.75 target price on shares of enCore Energy in a research report on Tuesday, May 13th.

enCore Energy Trading Down 3.8%

The company has a market cap of $475.13 million, a price-to-earnings ratio of -6.86 and a beta of 1.85. The firm has a 50-day moving average price of $2.55 and a 200 day moving average price of $2.21.

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

Hedge Funds Weigh In On enCore Energy

Institutional investors have recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in shares of enCore Energy by 3.9% during 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 last quarter. Wells Fargo & Company MN grew its holdings in enCore Energy by 44.9% in the 4th quarter. Wells Fargo & Company MN now owns 91,641 shares of the company's stock worth $312,000 after buying an additional 28,392 shares in the last quarter. Wellington Management Group LLP bought a new position in enCore Energy in the 4th quarter worth approximately $69,000. AWM Investment Company Inc. grew its holdings in enCore Energy by 118.1% in the 4th quarter. AWM Investment Company Inc. now owns 1,297,619 shares of the company's stock worth $4,425,000 after buying an additional 702,619 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in enCore Energy in the 4th quarter worth approximately $38,000. 20.86% of the stock is owned by institutional investors.

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.