enCore Energy Corp. (NASDAQ:EU) Stock Has Average Target Price of $2.90 According to Brokerages

Shares of enCore Energy Corp. (NASDAQ:EU) have earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $2.90.

A number of equities research analysts recently commented on the stock. HC Wainwright lowered their price target on shares of enCore Energy from $3.75 to $3.50 and set a “buy” rating on the stock in a report on Friday, August 14th. Wall Street Zen lowered enCore Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, September 26th. Jefferies Financial Group assumed coverage on enCore Energy in a research report on Thursday, September 3rd. They issued a “buy” rating and a $1.44 target price for the company. Weiss Ratings lowered enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 14th. Finally, Zacks Research raised enCore Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th.

enCore Energy Stock Performance

Shares of EU stock opened at $0.77 on Friday. 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 firm has a market cap of $150.18 million, a price-to-earnings ratio of -2.34 and a beta of 2.16. enCore Energy has a 52 week low of $0.76 and a 52 week high of $3.67. The firm’s 50-day simple moving average is $1.09 and its two-hundred day simple moving average is $1.36.

enCore Energy (NASDAQ:EU) last released its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.11). enCore Energy had a negative net margin of 112.82% and a negative return on equity of 28.00%. The company had revenue of $15.70 million for the quarter. As a group, equities analysts forecast that enCore Energy will post -0.41 earnings per share for the current year.

Insider Activity

In related news, Director Susan Hoxie-Key sold 30,648 shares of the business’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $0.94, for a total value of $28,809.12. Following the sale, the director directly owned 60,918 shares in the company, valued at approximately $57,262.92. The trade was a 33.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman William Sheriff acquired 100,000 shares of the company’s stock in a transaction on Friday, September 18th. The shares were acquired at an average cost of $0.81 per share, for a total transaction of $81,000.00. Following the completion of the acquisition, the chairman owned 1,662,169 shares of the company’s stock, valued at approximately $1,346,356.89. The trade was a 6.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 310,000 shares of company stock valued at $262,100. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EU. Brookstone Capital Management purchased a new stake in shares of enCore Energy during the first quarter worth $26,000. Krilogy Financial LLC bought a new position in shares of enCore Energy in the first quarter worth $36,000. Sanctuary Advisors LLC boosted its holdings in shares of enCore Energy by 37.7% in the first quarter. Sanctuary Advisors LLC now owns 24,138 shares of the company’s stock worth $43,000 after acquiring an additional 6,608 shares during the period. Royal Bank of Canada grew its position in shares of enCore Energy by 154.5% in the first quarter. Royal Bank of Canada now owns 31,744 shares of the company’s stock valued at $57,000 after purchasing an additional 19,269 shares in the last quarter. Finally, Rathbones Group PLC bought a new stake in shares of enCore Energy during the 1st quarter valued at $63,000. 20.86% of the stock is currently owned by hedge funds and other institutional investors.

About enCore Energy

enCore Energy Corp. is a uranium company focused on the exploration, development and production of uranium in the United States. The company uses in-situ recovery (ISR), a method that extracts uranium from underground deposits by circulating a solution through the host formation and processing the recovered material at licensed facilities.

enCore’s portfolio is concentrated in South Texas and includes the Rosita and Alta Mesa uranium processing facilities, along with associated well fields, mineral rights and development projects.