Investors Buy Large Volume of Call Options on enCore Energy (NASDAQ:EU)

Key Points

• enCore Energy Corp. (NASDAQ: EU) experienced a significant increase in call options trading, with 3,102 options acquired, marking a 63% rise from its average daily volume.
• Recent analyst ratings for enCore Energy reflect a consensus of "Buy," with price targets raised to $4.00 by multiple brokerages, indicating strong confidence among investment analysts.
• Shares of enCore Energy traded up 6.9% to $3.30, with a recent market capitalization of approximately $618.18 million and a 52-week price range between $1.01 and $4.44.

enCore Energy Corp. (NASDAQ:EU - Get Free Report) saw unusually large options trading on Wednesday. Stock traders acquired 3,102 call options on the company. This represents an increase of approximately 63% compared to the average daily volume of 1,902 call options.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EU. Zacks Research raised enCore Energy to a "hold" rating in a research note on Tuesday, August 12th. Wall Street Zen raised enCore Energy from a "sell" rating to a "hold" rating in a research note on Monday. B. Riley began coverage on enCore Energy in a research note on Wednesday, July 23rd. They set a "buy" rating and a $4.00 price objective for the company. Finally, HC Wainwright lifted their price objective on enCore Energy from $2.75 to $4.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. One investment 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 stock. According to MarketBeat, enCore Energy presently has an average rating of "Buy" and a consensus price target of $4.00.

Institutional Trading of enCore Energy

Institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. bought a new stake in shares of enCore Energy in the second quarter valued at about $29,000. Ballentine Partners LLC bought a new stake in enCore Energy during the second quarter worth about $29,000. Vanguard Personalized Indexing Management LLC bought a new stake in enCore Energy during the second quarter worth about $35,000. Tower Research Capital LLC TRC raised its holdings in 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 acquiring an additional 7,540 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in enCore Energy by 64.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,000 shares of the company's stock worth $27,000 after acquiring an additional 7,461 shares in the last quarter. 20.86% of the stock is currently owned by institutional investors.

enCore Energy Trading Up 6.9%

Shares of enCore Energy stock traded up $0.21 during trading on Wednesday, reaching $3.30. The stock had a trading volume of 1,779,086 shares, compared to its average volume of 2,786,484. The company has a market capitalization of $618.18 million, a price-to-earnings ratio of -9.41 and a beta of 1.84. The stock has a fifty day moving average price of $2.63 and a two-hundred day moving average price of $2.12. enCore Energy has a 52 week low of $1.01 and a 52 week high of $4.44.

enCore Energy (NASDAQ:EU - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.07) EPS for the quarter. The firm 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, equities analysts forecast that enCore Energy will post -0.2 EPS 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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