enCore Energy (NASDAQ:EU) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of enCore Energy (NASDAQ:EU – Free Report) from a hold rating to a strong sell rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on the company. HC Wainwright reduced their price objective on enCore Energy from $3.75 to $3.50 and set a “buy” rating for the company in a report on Friday, August 14th. Jefferies Financial Group began coverage on enCore Energy in a research note on Thursday, September 3rd. They set a “buy” rating and a $1.44 target price on the stock. Zacks Research cut enCore Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings downgraded enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, enCore Energy currently has a consensus rating of “Hold” and a consensus price target of $2.90.

Check Out Our Latest Stock Analysis on enCore Energy

enCore Energy Stock Performance

Shares of EU stock opened at $1.20 on Friday. The company has a market capitalization of $233.14 million, a price-to-earnings ratio of -3.64 and a beta of 2.13. 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 company has a 50-day simple moving average of $1.17 and a 200 day simple moving average of $1.48. enCore Energy has a 52 week low of $0.77 and a 52 week high of $4.18.

enCore Energy (NASDAQ:EU – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.11). The company had revenue of $15.70 million during the quarter. enCore Energy had a negative net margin of 112.82% and a negative return on equity of 28.00%. On average, sell-side analysts predict that enCore Energy will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other enCore Energy news, Chairman William Sheriff acquired 100,000 shares of the company’s stock in a transaction on Friday, September 18th. The stock was acquired at an average price of $0.81 per share, for a total transaction of $81,000.00. Following the purchase, the chairman directly owned 1,662,169 shares of the company’s stock, valued at $1,346,356.89. This trade represents a 6.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have bought 310,000 shares of company stock valued at $262,100. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Brookstone Capital Management acquired a new stake in shares of enCore Energy in the first quarter valued at approximately $26,000. Krilogy Financial LLC acquired a new stake in enCore Energy during the first quarter worth approximately $36,000. Sanctuary Advisors LLC grew its position in enCore Energy by 37.7% during the first quarter. Sanctuary Advisors LLC now owns 24,138 shares of the company’s stock worth $43,000 after buying an additional 6,608 shares in the last quarter. J. Derek Lewis & Associates Inc. bought a new position in enCore Energy during the 4th quarter worth $72,000. Finally, Royal Bank of Canada increased its stake 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 acquiring an additional 19,269 shares during the period. 20.86% of the stock is owned by institutional investors.

enCore Energy Company Profile

(Get Free Report)

enCore Energy Corp. is a uranium exploration, development and production company focused on advancing domestic uranium resources in the United States. The company uses in-situ recovery (ISR) technology, which extracts uranium from suitable underground formations by circulating a solution through the deposit and processing the resulting uranium-bearing fluids at a recovery plant.

enCore’s portfolio includes uranium projects and production facilities in South Texas, including the Alta Mesa and Rosita projects.

Further Reading

Analyst Recommendations for enCore Energy (NASDAQ:EU)

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