Tidal Investments LLC Buys Shares of 2,103,384 enCore Energy Corp. $EU

Key Points

• Tidal Investments purchased 2.1 million shares of enCore Energy, valued at approximately $2.76 million, giving it a 1.08% stake. Institutional investors collectively own 20.86% of the company.
• Analyst sentiment is mixed: the stock has an average rating of “Hold” and an average price target of $2.90, with ratings ranging from Strong Buy to Strong Sell.
• enCore Energy reported a quarterly loss of $0.21 per share, missing estimates by $0.11, while shares recently traded at $0.93—near the lower end of their 12-month range of $0.77 to $4.18.

Tidal Investments LLC purchased a new stake in shares of enCore Energy Corp. (NASDAQ:EU - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,103,384 shares of the company's stock, valued at approximately $2,755,000. Tidal Investments LLC owned approximately 1.08% of enCore Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in shares of enCore Energy in the second quarter valued at approximately $725,000. Hennion & Walsh Asset Management Inc. boosted its position in enCore Energy by 90.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 236,373 shares of the company's stock worth $310,000 after buying an additional 112,130 shares during the period. Rathbones Group PLC bought a new stake in enCore Energy during the 1st quarter worth approximately $63,000. J. Derek Lewis & Associates Inc. grew its holdings in enCore Energy by 82.8% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 53,000 shares of the company's stock worth $95,000 after acquiring an additional 24,000 shares during the last quarter. Finally, Royal Bank of Canada increased its position in enCore Energy by 154.5% in the 1st quarter. Royal Bank of Canada now owns 31,744 shares of the company's stock valued at $57,000 after acquiring an additional 19,269 shares during the period. 20.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EU. Jefferies Financial Group began coverage on shares of enCore Energy in a research note on Thursday, September 3rd. They set a "buy" rating and a $1.44 price target for the company. HC Wainwright decreased their price objective on enCore Energy from $3.75 to $3.50 and set a "buy" rating for the company in a report on Friday, August 14th. Weiss Ratings lowered enCore Energy from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday. Finally, Zacks Research downgraded enCore Energy from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $2.90.

enCore Energy Stock Performance

Shares of EU opened at $0.93 on Wednesday. The company has a current ratio of 8.00, a quick ratio of 6.84 and a debt-to-equity ratio of 0.45. The firm's fifty day simple moving average is $1.20 and its two-hundred day simple moving average is $1.55. enCore Energy Corp. has a 12 month low of $0.77 and a 12 month high of $4.18. The stock has a market capitalization of $180.68 million, a P/E ratio of -2.82 and a beta of 2.13.

enCore Energy (NASDAQ:EU - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.11). The business had revenue of $15.70 million during the quarter. enCore Energy had a negative return on equity of 28.00% and a negative net margin of 112.82%. As a group, analysts predict that enCore Energy Corp. will post -0.41 EPS for the current year.

About enCore Energy

enCore Energy Corp. is a uranium exploration, development and production company focused on advancing domestic uranium resources in the United States. The company uses in-situ recovery (ISR) technology, which extracts uranium from suitable underground formations by circulating a solution through the deposit and processing the resulting uranium-bearing fluids at a recovery plant.

enCore's portfolio includes uranium projects and production facilities in South Texas, including the Alta Mesa and Rosita projects.

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