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 research report issued on Tuesday,Benzinga reports. They currently have a $2.75 target price on the stock. HC Wainwright’s price target points to a potential upside of 60.35% from the company’s previous close.

enCore Energy Price Performance

Shares of EU stock traded down $0.05 during trading on Tuesday, hitting $1.72. 62,312 shares of the stock traded hands, compared to its average volume of 1,537,983. The firm has a market capitalization of $320.17 million, a P/E ratio of -6.12 and a beta of 1.19. The firm’s fifty day moving average price is $1.45 and its 200-day moving average price is $2.67. enCore Energy has a 52-week low of $1.01 and a 52-week 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 the consensus estimate of ($0.02) by ($0.06). The company had revenue of $18.24 million for the quarter, compared to analysts’ expectations of $15.10 million. As a group, equities research analysts expect that enCore Energy will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman William M. Sheriff purchased 40,000 shares of enCore Energy stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average cost of $1.21 per share, with a total value of $48,400.00. Following the completion of the transaction, the chairman now directly owns 2,310,055 shares in the company, valued at approximately $2,795,166.55. The trade was 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

A number of institutional investors and hedge funds have recently made changes to their positions in EU. Van ECK Associates Corp raised its holdings in shares of enCore Energy by 79.8% in the fourth quarter. Van ECK Associates Corp now owns 4,378,073 shares of the company’s stock valued at $14,929,000 after buying an additional 1,943,731 shares during the last quarter. MMCAP International Inc. SPC increased its stake in shares of enCore Energy by 66.0% during the first quarter. MMCAP International Inc. SPC now owns 3,819,501 shares of the company’s stock worth $5,232,000 after acquiring an additional 1,517,992 shares during the period. Yaupon Capital Management LP acquired a new position in shares of enCore Energy during the fourth quarter worth about $3,415,000. AWM Investment Company Inc. increased its stake in shares of enCore Energy by 118.1% during the fourth quarter. AWM Investment Company Inc. now owns 1,297,619 shares of the company’s stock worth $4,425,000 after acquiring an additional 702,619 shares during the period. Finally, Nuveen LLC acquired a new position in shares of enCore Energy during the first quarter worth about $662,000. 20.86% of the stock is owned by hedge funds and other institutional investors.

enCore Energy Company Profile

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.