Insider Buying: enCore Energy (NASDAQ:EU) Chairman Buys $44,500.00 in Stock

Key Points

• Chairman William Sheriff bought 50,000 enCore Energy shares at an average price of $0.89, investing $44,500 and increasing his direct ownership by 3.31% to 1.56 million shares.
• enCore Energy shares fell 5.3% to $0.88, near the lower end of their 52-week range. The company recently reported a quarterly loss of $0.21 per share, missing analyst expectations of a $0.10 loss.
• Analyst sentiment is mixed, with ratings ranging from strong sell to buy; the stock has an overall “Hold” consensus and a $2.90 average price target, substantially above its current price.

enCore Energy Corp. (NASDAQ:EU - Get Free Report) Chairman William Sheriff acquired 50,000 shares of enCore Energy stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $0.89 per share, for a total transaction of $44,500.00. Following the completion of the purchase, the chairman directly owned 1,562,169 shares in the company, valued at $1,390,330.41. The trade was a 3.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

enCore Energy Stock Down 5.3%

EU stock traded down $0.05 during mid-day trading on Wednesday, hitting $0.88. 4,897,761 shares of the company were exchanged, compared to its average volume of 3,459,134. The firm has a fifty day simple moving average of $1.20 and a 200 day simple moving average of $1.55. The company has a market capitalization of $170.17 million, a PE ratio of -2.65 and a beta of 2.13. enCore Energy Corp. has a twelve month low of $0.77 and a twelve month high of $4.18. The company has a current ratio of 8.00, a quick ratio of 6.84 and a debt-to-equity ratio of 0.45.

enCore Energy (NASDAQ:EU - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.11). enCore Energy had a negative net margin of 112.82% and a negative return on equity of 28.00%. The company had revenue of $15.70 million during the quarter. On average, research analysts forecast that enCore Energy Corp. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On enCore Energy

Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new position in shares of enCore Energy during the fourth quarter worth approximately $2,379,000. Azarias Capital Management L.P. grew its holdings in enCore Energy by 22.6% in the 1st quarter. Azarias Capital Management L.P. now owns 5,067,708 shares of the company's stock worth $9,122,000 after buying an additional 934,857 shares in the last quarter. Tidal Investments LLC acquired a new stake in enCore Energy in the 2nd quarter valued at approximately $2,755,000. GeoSphere Capital Management LLC increased its position in enCore Energy by 333.3% in the 4th quarter. GeoSphere Capital Management LLC now owns 1,300,000 shares of the company's stock valued at $3,224,000 after acquiring an additional 1,000,000 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in enCore Energy during the 2nd quarter valued at $725,000. Institutional investors and hedge funds own 20.86% of the company's stock.

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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