enCore Energy’s (EU) “Buy” Rating Reiterated at HC Wainwright

enCore Energy (NASDAQ:EU)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $2.75 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 60.35% from the company’s previous close.

enCore Energy Stock Performance

enCore Energy stock traded down $0.05 during mid-day trading on Tuesday, reaching $1.72. 62,312 shares of the company were exchanged, compared to its average volume of 1,537,983. The business has a fifty day moving average of $1.45 and a 200 day moving average of $2.67. The firm has a market cap of $320.17 million, a P/E ratio of -6.12 and a beta of 1.19. enCore Energy has a 12-month low of $1.01 and a 12-month high of $4.96.

enCore Energy (NASDAQ:EU) last posted its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The business had revenue of $18.24 million during the quarter, compared to the consensus estimate of $15.10 million. Sell-side analysts predict that enCore Energy will post -0.2 EPS for the current year.

Insider Activity

In related news, Chairman William M. Sheriff purchased 40,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $1.21 per share, with a total value of $48,400.00. Following the transaction, the chairman now owns 2,310,055 shares of the company’s stock, valued at approximately $2,795,166.55. This trade represents a 1.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On enCore Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of enCore Energy by 64.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,000 shares of the company’s stock worth $27,000 after acquiring an additional 7,461 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of enCore Energy during the 1st quarter worth about $35,000. Savant Capital LLC purchased a new stake in shares of enCore Energy during the 4th quarter worth about $36,000. Sovran Advisors LLC purchased a new stake in shares of enCore Energy during the 1st quarter worth about $36,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of enCore Energy during the 4th quarter worth about $38,000. 20.86% of the stock is owned by institutional investors and hedge funds.

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.