enCore Energy (NASDAQ:EU) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of enCore Energy (NASDAQ:EU) from a hold rating to a sell rating in a report released on Saturday.

EU has been the topic of a number of other reports. HC Wainwright increased their target price on shares of enCore Energy from $2.75 to $4.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of enCore Energy to a “hold” rating in a research report on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed 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 assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, enCore Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

enCore Energy Stock Down 1.2%

Shares of NASDAQ EU opened at $2.40 on Friday. The business’s 50 day moving average is $2.99 and its two-hundred day moving average is $2.61. enCore Energy has a 52-week low of $1.01 and a 52-week high of $4.18. The company has a quick ratio of 12.48, a current ratio of 13.64 and a debt-to-equity ratio of 0.39. The firm has a market cap of $449.40 million, a price-to-earnings ratio of -8.57 and a beta of 1.97.

enCore Energy (NASDAQ:EU) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.07) EPS for the quarter. enCore Energy had a negative return on equity of 19.83% and a negative net margin of 118.78%.The business had revenue of $8.88 million during the quarter. Research analysts predict that enCore Energy will post -0.2 EPS for the current year.

Insider Activity

In other enCore Energy news, Director William B. Harris sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $3.41, for a total value of $272,800.00. Following the completion of the transaction, the director owned 280,001 shares in the company, valued at $954,803.41. This represents a 22.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Stover sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $3.54, for a total value of $70,800.00. Following the sale, the director owned 468,500 shares of the company’s stock, valued at approximately $1,658,490. This trade represents a 4.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 120,000 shares of company stock worth $410,200. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in shares of enCore Energy by 76.7% during the third quarter. Van ECK Associates Corp now owns 15,972,156 shares of the company’s stock worth $51,271,000 after buying an additional 6,933,454 shares during the period. Boundary Creek Advisors LP acquired a new position in shares of enCore Energy in the 1st quarter worth approximately $2,898,000. MMCAP International Inc. SPC grew its position in enCore Energy by 66.0% in the first quarter. MMCAP International Inc. SPC now owns 3,819,501 shares of the company’s stock worth $5,232,000 after buying an additional 1,517,992 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of enCore Energy during the third quarter worth $4,590,000. Finally, Two Sigma Investments LP purchased a new stake in enCore Energy during the third quarter valued at about $3,804,000. Institutional investors and hedge funds 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.