enCore Energy (NASDAQ:EU) Announces Quarterly Earnings Results

enCore Energy (NASDAQ:EU) issued its quarterly earnings data on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, Zacks reports. enCore Energy had a negative net margin of 143.28% and a negative return on equity of 19.23%.

enCore Energy Stock Performance

NASDAQ EU traded up $0.11 during mid-day trading on Monday, reaching $2.75. 2,097,514 shares of the stock were exchanged, compared to its average volume of 3,118,773. enCore Energy has a 1 year low of $1.01 and a 1 year high of $4.18. The business’s 50 day moving average is $2.94 and its 200-day moving average is $2.55. The company has a market capitalization of $513.70 million, a P/E ratio of -7.84 and a beta of 1.98.

Insider Activity at enCore Energy

In related news, Director Dennis Stover sold 20,000 shares of the 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 approximately $1,658,490. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William B. Harris sold 80,000 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $3.41, for a total value of $272,800.00. Following the sale, the director directly owned 280,001 shares of the company’s stock, valued at $954,803.41. The trade was a 22.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 120,000 shares of company stock valued at $410,200. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On enCore Energy

A number of large investors have recently modified their holdings of EU. Raymond James Financial Inc. grew its holdings in enCore Energy by 25.1% in the second quarter. Raymond James Financial Inc. now owns 19,968 shares of the company’s stock valued at $57,000 after purchasing an additional 4,000 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of enCore Energy by 88.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 16,105 shares of the company’s stock worth $46,000 after purchasing an additional 7,540 shares during the period. Prudential Financial Inc. raised its stake in shares of enCore Energy by 68.9% in the 2nd quarter. Prudential Financial Inc. now owns 20,550 shares of the company’s stock valued at $59,000 after acquiring an additional 8,380 shares during the period. Creative Planning grew its stake in shares of enCore Energy by 66.1% in the second quarter. Creative Planning now owns 24,162 shares of the company’s stock valued at $69,000 after buying an additional 9,612 shares in the last quarter. Finally, Osaic Holdings Inc. purchased a new position in shares of enCore Energy in the second quarter valued at $29,000. 20.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on EU shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of enCore Energy in a research report on Wednesday, October 8th. Zacks Research raised shares of enCore Energy to a “hold” rating in a report on Tuesday, August 12th. Wall Street Zen raised shares of enCore Energy from a “sell” rating to a “hold” rating in a report on Monday, September 22nd. HC Wainwright lifted their price target on enCore Energy from $2.75 to $4.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Finally, B. Riley assumed coverage on shares of enCore Energy in a research note on Wednesday, July 23rd. They set a “buy” rating and a $4.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

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.