enCore Energy (NASDAQ:EU) Rating Increased to Hold 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 stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Monday.

Several other brokerages also recently commented on EU. HC Wainwright upped their price target on shares of enCore Energy from $2.75 to $4.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of enCore Energy to a "hold" rating in a research note on Tuesday, August 12th. Finally, B. Riley began coverage on enCore Energy in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $4.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $4.00.

enCore Energy Stock Up 3.9%

Shares of NASDAQ:EU traded up $0.11 during trading on Monday, hitting $2.90. 4,966,380 shares of the company traded hands, compared to its average volume of 3,935,209. enCore Energy has a one year low of $1.01 and a one year high of $4.44. The business's fifty day moving average is $2.62 and its 200-day moving average is $2.11. The stock has a market capitalization of $542.59 million, a price-to-earnings ratio of -8.29 and a beta of 1.84.

enCore Energy (NASDAQ:EU - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.07) earnings per share (EPS) for the quarter. The company 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%. On average, analysts forecast that enCore Energy will post -0.2 EPS for the current year.

Hedge Funds Weigh In On enCore Energy

Several hedge funds have recently made changes to their positions in EU. Raymond James Financial Inc. grew its position in shares of enCore Energy by 25.1% in the 2nd quarter. Raymond James Financial Inc. now owns 19,968 shares of the company's stock valued at $57,000 after acquiring an additional 4,000 shares during the period. Bank of Montreal Can increased its position in enCore Energy by 35.6% during the 2nd quarter. Bank of Montreal Can now owns 25,406 shares of the company's stock worth $73,000 after buying an additional 6,666 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in enCore Energy by 64.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,000 shares of the company's stock worth $27,000 after purchasing an additional 7,461 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of enCore Energy by 88.0% in the second quarter. Tower Research Capital LLC TRC now owns 16,105 shares of the company's stock valued at $46,000 after buying an additional 7,540 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of enCore Energy by 68.9% during the 2nd quarter. Prudential Financial Inc. now owns 20,550 shares of the company's stock valued at $59,000 after acquiring an additional 8,380 shares during the period. 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.