enCore Energy (NASDAQ:EU) Stock Moved Down to Speculative Buy by Canaccord Genuity Group

Canaccord Genuity Group cut shares of enCore Energy (NASDAQ:EU) from a buy rating to a speculative buy rating in a report published on Friday morning, Marketbeat reports. Canaccord Genuity Group currently has C$1.50 price target on the stock.

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

enCore Energy Price Performance

EU stock traded up $0.01 during trading on Friday, hitting $0.55. The company had a trading volume of 3,258,113 shares, compared to its average volume of 3,021,450. The firm has a market capitalization of $107.70 million, a price-to-earnings ratio of -1.17 and a beta of 2.29. The business has a 50 day moving average of $0.91 and a 200 day moving average of $1.53. enCore Energy has a fifty-two week low of $0.53 and a fifty-two week high of $3.67. The company has a current ratio of 8.00, a quick ratio of 6.84 and a debt-to-equity ratio of 0.45.

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

Insiders Place Their Bets

In related news, Chairman William Sheriff bought 100,000 shares of enCore Energy stock in a transaction dated Friday, September 18th. The stock was acquired at an average cost of $0.81 per share, with a total value of $81,000.00. Following the completion of the acquisition, the chairman directly owned 1,662,169 shares in the company, valued at approximately $1,346,356.89. This trade represents a 6.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Hoxie-Key sold 30,648 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $0.94, for a total value of $28,809.12. Following the completion of the transaction, the director owned 60,918 shares of the company’s stock, valued at $57,262.92. This trade represents a 33.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have bought 310,000 shares of company stock worth $262,100 over the last ninety days. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tidal Investments LLC acquired a new stake in shares of enCore Energy during the second quarter valued at approximately $2,755,000. LuminArx Capital Management LP acquired a new position in enCore Energy in the 3rd quarter worth approximately $2,160,000. Bank of New York Mellon Corp purchased a new position in enCore Energy during the 2nd quarter worth approximately $725,000. Themes Management Co LLC grew its position in enCore Energy by 187.2% during the 1st quarter. Themes Management Co LLC now owns 246,624 shares of the company’s stock worth $447,000 after purchasing an additional 160,765 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in enCore Energy by 90.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 236,373 shares of the company’s stock worth $310,000 after purchasing an additional 112,130 shares in the last quarter. 20.86% of the stock is owned by hedge funds and other institutional investors.

About enCore Energy

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.