enCore Energy (NASDAQ:EU) Upgraded at Wall Street Zen

Key Points

• enCore Energy was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment toward the stock.
• HC Wainwright has increased its price target for enCore Energy from $2.75 to $4.00, with a "buy" rating assigned.
• The company's shares rose by 6.9%, opening at $2.79 and showing a twelve-month range of $1.01 to $4.44.

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

Several other equities research analysts also recently weighed in on EU. HC Wainwright raised their price target on enCore Energy from $2.75 to $4.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. B. Riley assumed coverage on shares of enCore Energy in a research note on Wednesday, July 23rd. They set a "buy" rating and a $4.00 price target on the stock. Finally, Zacks Research raised shares of enCore Energy to a "hold" rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, enCore Energy has an average rating of "Buy" and a consensus target price of $4.00.

enCore Energy Stock Up 6.9%

Shares of EU opened at $2.79 on Monday. The company has a 50 day moving average of $2.62 and a two-hundred day moving average of $2.11. enCore Energy has a twelve month low of $1.01 and a twelve month high of $4.44. The company has a market cap of $522.01 million, a price-to-earnings ratio of -7.97 and a beta of 1.84.

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

Hedge Funds Weigh In On enCore Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EU. Ameriprise Financial Inc. purchased a new position in enCore Energy during the fourth quarter valued at $73,000. Bank of America Corp DE lifted its stake in enCore Energy by 9.4% in the 4th 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 in the last quarter. Deutsche Bank AG lifted its stake in enCore Energy by 57.6% in the 4th 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 in the last quarter. ProShare Advisors LLC lifted 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 acquiring an additional 16,823 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of enCore Energy in the fourth quarter valued at approximately $69,000. 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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