enCore Energy (NASDAQ:EU) Posts Quarterly Earnings Results

enCore Energy (NASDAQ:EU) released its quarterly earnings data on Monday. The company reported ($0.07) earnings per share for the quarter, Zacks reports. enCore Energy had a negative net margin of 118.78% and a negative return on equity of 19.40%. The company had revenue of $8.88 million for the quarter.

enCore Energy Stock Performance

Shares of enCore Energy stock opened at $2.66 on Wednesday. The company has a fifty day moving average of $2.95 and a 200 day moving average of $2.56. The company has a market capitalization of $497.79 million, a P/E ratio of -9.50 and a beta of 1.97. enCore Energy has a fifty-two week low of $1.01 and a fifty-two week high of $4.18.

Wall Street Analysts Forecast Growth

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

Insider Activity

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

Hedge Funds Weigh In On enCore Energy

A number of hedge funds and other institutional investors have recently modified their holdings of EU. Osaic Holdings Inc. bought a new stake in enCore Energy in the 2nd quarter valued at $29,000. Tower Research Capital LLC TRC grew its position in shares of enCore Energy by 88.0% during the second quarter. Tower Research Capital LLC TRC now owns 16,105 shares of the company’s stock valued at $46,000 after purchasing an additional 7,540 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of enCore Energy by 32.9% in the second quarter. Vident Advisory LLC now owns 3,172,762 shares of the company’s stock worth $9,045,000 after purchasing an additional 785,568 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of enCore Energy by 25.1% in the second quarter. Raymond James Financial Inc. now owns 19,968 shares of the company’s stock worth $57,000 after buying an additional 4,000 shares in the last quarter. Finally, Main Street Financial Solutions LLC purchased a new stake in shares of enCore Energy in the second quarter worth about $87,000. 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.