enCore Energy (NASDAQ:EU) Shares Up 8.4% – Here’s What Happened

enCore Energy Corp. (NASDAQ:EU) shot up 8.4% on Friday . The company traded as high as $2.77 and last traded at $2.7750. 2,965,725 shares were traded during mid-day trading, a decline of 5% from the average session volume of 3,106,565 shares. The stock had previously closed at $2.56.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EU shares. B. Riley initiated coverage on enCore Energy in a research note on Wednesday, July 23rd. They issued a “buy” rating and a $4.00 target price on the stock. HC Wainwright boosted their target price on shares of enCore Energy from $2.75 to $4.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Wall Street Zen raised shares of enCore Energy from a “sell” rating to a “hold” rating in a research note on Monday, September 22nd. Zacks Research raised shares of enCore Energy to a “hold” rating in a research report on Tuesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of enCore Energy in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.00.

enCore Energy Trading Up 6.6%

The company has a quick ratio of 2.04, a current ratio of 13.64 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average price of $2.96 and a 200-day moving average price of $2.56. The company has a market capitalization of $511.19 million, a price-to-earnings ratio of -9.75 and a beta of 1.97.

enCore Energy (NASDAQ:EU) last announced its earnings results on Monday, November 10th. The company reported ($0.07) earnings per share for the quarter. The business had revenue of $8.88 million for the quarter. enCore Energy had a negative net margin of 118.78% and a negative return on equity of 19.83%. Research analysts predict that enCore Energy Corp. will post -0.2 EPS for the current fiscal year.

Insider Activity

In other enCore Energy news, Director Dennis Stover sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $3.54, for a total value of $70,800.00. Following the completion of the sale, the director owned 468,500 shares in the company, valued at approximately $1,658,490. This trade represents a 4.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William B. Harris sold 80,000 shares of enCore Energy stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $3.41, for a total value of $272,800.00. Following the sale, the director directly owned 280,001 shares in the company, valued at $954,803.41. The trade was a 22.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 120,000 shares of company stock worth $410,200. Insiders own 3.90% of the company’s stock.

Institutional Trading of enCore Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC bought a new position in enCore Energy during the third quarter worth about $26,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 worth $27,000 after buying an additional 7,461 shares in the last quarter. Compound Planning Inc. bought a new position in shares of enCore Energy during the 1st quarter worth approximately $27,000. Farther Finance Advisors LLC boosted its stake in enCore Energy by 222.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,405 shares of the company’s stock valued at $27,000 after buying an additional 5,797 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new position in enCore Energy during the second quarter worth $29,000. Institutional investors 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.