Traders Purchase Large Volume of enCore Energy Call Options (NASDAQ:EU)

enCore Energy Corp. (NASDAQ:EU - Get Free Report) was the target of some unusual options trading activity on Monday. Stock traders acquired 2,897 call options on the stock. This represents an increase of approximately 162% compared to the typical volume of 1,107 call options.

enCore Energy Stock Up 13.5%

EU stock traded up $0.30 during midday trading on Monday, reaching $2.49. The stock had a trading volume of 3,331,001 shares, compared to its average volume of 2,261,054. The firm has a market cap of $464.76 million, a price-to-earnings ratio of -8.87 and a beta of 1.54. enCore Energy has a twelve month low of $1.01 and a twelve month high of $4.50. The business has a fifty day simple moving average of $1.70 and a two-hundred day simple moving average of $2.37.

enCore Energy (NASDAQ:EU - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $18.24 million during the quarter, compared to analyst estimates of $15.10 million. On average, equities analysts predict that enCore Energy will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $2.75 target price on shares of enCore Energy in a research note on Tuesday, May 13th.

Insider Activity at enCore Energy

In related news, Chairman William M. Sheriff acquired 40,000 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $1.21 per share, for a total transaction of $48,400.00. Following the completion of the purchase, the chairman now directly owns 2,310,055 shares of the company's stock, valued at $2,795,166.55. The trade was a 1.76% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of enCore Energy by 64.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,000 shares of the company's stock valued at $27,000 after buying an additional 7,461 shares in the last quarter. Compound Planning Inc. bought a new stake in enCore Energy during the 1st quarter worth about $27,000. Virtu Financial LLC bought a new stake in enCore Energy during the first quarter worth about $35,000. Savant Capital LLC acquired a new stake in shares of enCore Energy in the 4th quarter valued at approximately $36,000. Finally, Sovran Advisors LLC acquired a new position in enCore Energy during the first quarter worth $36,000. Institutional investors and hedge funds own 20.86% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.