enCore Energy (NASDAQ:EU) Price Target Cut to $3.50 by Analysts at HC Wainwright

enCore Energy (NASDAQ:EU) had its price objective cut by HC Wainwright from $3.75 to $3.50 in a research note released on Friday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on EU. Northland Securities set a $3.75 target price on enCore Energy in a research report on Monday, May 18th. Zacks Research lowered shares of enCore Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings raised enCore Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded enCore Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.62.

enCore Energy Trading Up 6.1%

Shares of enCore Energy stock opened at $1.21 on Friday. enCore Energy has a 1 year low of $1.03 and a 1 year high of $4.18. The company has a debt-to-equity ratio of 0.39, a current ratio of 11.08 and a quick ratio of 10.25. The business has a 50 day moving average price of $1.30 and a 200 day moving average price of $1.81. The company has a market capitalization of $235.08 million, a P/E ratio of -3.67 and a beta of 2.10.

enCore Energy (NASDAQ:EU) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.11). The firm had revenue of $15.70 million for the quarter. enCore Energy had a negative return on equity of 27.30% and a negative net margin of 112.82%. Sell-side analysts anticipate that enCore Energy will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Richard H. Little bought 50,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $1.28 per share, for a total transaction of $64,000.00. Following the completion of the purchase, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at $64,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman William M. Sheriff acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average price of $1.47 per share, with a total value of $36,750.00. Following the completion of the acquisition, the chairman directly owned 25,000 shares of the company’s stock, valued at $36,750. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 259,905 shares of company stock valued at $362,534 over the last ninety days. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EU. Raymond James Financial Inc. increased its holdings in enCore Energy by 25.1% in the second quarter. Raymond James Financial Inc. now owns 19,968 shares of the company’s stock valued at $57,000 after purchasing an additional 4,000 shares during the last quarter. Intech Investment Management LLC raised its position in shares of enCore Energy by 6.5% during the fourth quarter. Intech Investment Management LLC now owns 68,650 shares of the company’s stock worth $170,000 after purchasing an additional 4,219 shares during the period. Franklin Resources Inc. lifted its holdings in shares of enCore Energy by 24.6% in the third quarter. Franklin Resources Inc. now owns 21,560 shares of the company’s stock valued at $69,000 after purchasing an additional 4,252 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in enCore Energy by 192.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 8,137 shares of the company’s stock worth $26,000 after buying an additional 5,356 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in shares of enCore Energy by 37.7% in the 1st quarter. Sanctuary Advisors LLC now owns 24,138 shares of the company’s stock valued at $43,000 after buying an additional 6,608 shares during the last quarter. 20.86% of the stock is owned by institutional investors and hedge funds.

enCore Energy Company Profile

enCore Energy Inc is a U.S.-based uranium exploration and development company focused on deploying in-situ recovery (ISR) technology to bring domestic uranium projects into production. The company’s operations are centered on the Nichols Ranch ISR facility in Wyoming, which represents enCore’s flagship asset and its nearest-term production opportunity. Through ISR methods, enCore seeks to extract uranium with lower environmental impact and capital requirements relative to conventional mining.

In addition to Nichols Ranch, enCore holds a diversified portfolio of uranium properties in the western United States, including the Roca Honda project in New Mexico and several ISR-amenable projects in the Texas and Oklahoma regions.