enCore Energy Target of Unusually High Options Trading (NASDAQ:EU)

Key Points

• enCore Energy Corp. experienced an unusual surge in options trading, with 41,493 call options purchased, marking a 961% increase over its typical daily volume.
• Insider transactions revealed that directors Dennis Stover and William B. Harris sold a significant number of shares, decreasing their positions by 3.93% and 22.22%, respectively.
• Various analysts have provided mixed ratings for the stock, with HC Wainwright giving it a "buy" rating and a target price increase to $4.00, while Weiss Ratings reiterated a "sell (d-)" rating.

enCore Energy Corp. (NASDAQ:EU - Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 41,493 call options on the stock. This represents an increase of approximately 961% compared to the typical daily volume of 3,910 call options.

Insider Activity

In related news, Director Dennis Stover sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $3.33, for a total value of $66,600.00. Following the sale, the director owned 488,500 shares in the company, valued at $1,626,705. This represents a 3.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William B. Harris sold 80,000 shares of the company's stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $3.41, for a total value of $272,800.00. Following the completion of the sale, the director owned 280,001 shares in the company, valued at approximately $954,803.41. This represents a 22.22% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On enCore Energy

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in enCore Energy by 222.3% during the third quarter. Farther Finance Advisors LLC now owns 8,405 shares of the company's stock worth $27,000 after buying an additional 5,797 shares in the last quarter. Osaic Holdings Inc. bought a new stake in shares of enCore Energy during the second quarter valued at approximately $29,000. Ballentine Partners LLC bought a new position in enCore Energy in the second quarter valued at approximately $29,000. Vanguard Personalized Indexing Management LLC bought a new position in enCore Energy in the second quarter valued at approximately $35,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of enCore Energy by 88.0% during the second quarter. Tower Research Capital LLC TRC now owns 16,105 shares of the company's stock worth $46,000 after purchasing an additional 7,540 shares in the last quarter. 20.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EU shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of enCore Energy in a report on Wednesday, October 8th. HC Wainwright increased their target price on enCore Energy from $2.75 to $4.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Wall Street Zen upgraded enCore Energy from a "sell" rating to a "hold" rating in a report on Monday, September 22nd. Zacks Research raised enCore Energy to a "hold" rating in a research note on Tuesday, August 12th. Finally, B. Riley assumed coverage on enCore Energy in a research note on Wednesday, July 23rd. They set a "buy" rating and a $4.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $4.00.

enCore Energy Stock Performance

Shares of NASDAQ EU traded up $0.32 during midday trading on Wednesday, reaching $3.98. 4,115,255 shares of the company's stock were exchanged, compared to its average volume of 2,956,886. enCore Energy has a 52-week low of $1.01 and a 52-week high of $4.44. The stock has a market capitalization of $745.41 million, a PE ratio of -11.41 and a beta of 1.98. The business's fifty day moving average price is $2.76 and its two-hundred day moving average price is $2.31.

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

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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