enCore Energy (NASDAQ:EU) Stock Bumped Down to Moderate Buy by Canaccord Genuity Group

enCore Energy (NASDAQ:EU) was downgraded by equities research analysts at Canaccord Genuity Group from a “buy” rating to a “moderate buy” rating in a research note issued to investors on Friday, MarketBeat.com reports. They presently have a C$1.50 price objective on the stock.

A number of other research firms also recently commented on EU. Wall Street Zen downgraded enCore Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, September 26th. Jefferies Financial Group started coverage on enCore Energy in a research note on Thursday, September 3rd. They issued a “buy” rating and a $1.44 price objective on the stock. Zacks Research upgraded enCore Energy from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. B. Riley Financial reiterated a “buy” rating on shares of enCore Energy in a report on Wednesday, October 28th. Finally, Weiss Ratings downgraded shares of enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2.23.

enCore Energy Trading Up 2.1%

Shares of EU traded up $0.01 during trading hours on Friday, hitting $0.55. The stock had a trading volume of 3,258,113 shares, compared to its average volume of 3,021,450. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.84 and a current ratio of 8.00. The firm has a market cap of $107.70 million, a P/E ratio of -1.17 and a beta of 2.29. The company’s fifty day simple moving average is $0.91 and its 200 day simple moving average is $1.53. enCore Energy has a 12-month low of $0.53 and a 12-month high of $3.67.

enCore Energy (NASDAQ:EU) last issued its earnings results on Thursday, November 12th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). enCore Energy had a negative net margin of 145.02% and a negative return on equity of 32.11%. The firm had revenue of $16.69 million during the quarter. Equities research analysts forecast that enCore Energy will post -0.41 EPS for the current fiscal year.

Insider Activity

In related news, Chairman William M. Sheriff bought 100,000 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was bought at an average price of $0.84 per share, with a total value of $84,000.00. Following the completion of the transaction, the chairman directly owned 1,512,169 shares of the company’s stock, valued at approximately $1,270,221.96. This represents a 7.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan Hoxie-Key sold 30,648 shares of the company’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $0.94, for a total value of $28,809.12. Following the completion of the sale, the director directly owned 60,918 shares of the company’s stock, valued at $57,262.92. The trade was a 33.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders acquired 310,000 shares of company stock worth $262,100 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On enCore Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC raised its stake in enCore Energy by 37.7% during the first 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 in the last quarter. Royal Bank of Canada lifted its holdings in enCore Energy by 154.5% during the 1st quarter. Royal Bank of Canada now owns 31,744 shares of the company’s stock worth $57,000 after buying an additional 19,269 shares during the last quarter. J. Derek Lewis & Associates Inc. lifted 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 buying an additional 24,000 shares during the last quarter. Rathbones Group PLC acquired a new position in shares of enCore Energy in the 1st quarter worth approximately $63,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of enCore Energy by 90.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 236,373 shares of the company’s stock worth $310,000 after acquiring an additional 112,130 shares in the last quarter. 20.86% of the stock is owned by institutional investors and hedge funds.

enCore Energy Company Profile

enCore Energy Corp. is a U.S. uranium company focused on producing uranium for the nuclear fuel industry. The company uses in-situ recovery (ISR), a method that circulates a solution through underground uranium deposits to recover the uranium without conventional open-pit or underground mining. Its portfolio includes the Rosita and Alta Mesa projects in South Texas, as well as uranium assets in other parts of the United States. The company has developed processing facilities and wellfields to support ISR production, and its product is uranium concentrate used in the nuclear fuel cycle. enCore’s focus on domestic uranium resources reflects its aim to supply U.S. utilities and other customers.