HC Wainwright Reiterates “Buy” Rating for enCore Energy (NASDAQ:EU)

enCore Energy (NASDAQ:EU)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Friday, Benzinga reports. They presently have a $7.50 price target on the stock. HC Wainwright’s target price suggests a potential upside of 80.72% from the stock’s previous close. HC Wainwright also issued estimates for enCore Energy’s FY2025 earnings at $0.06 EPS.

Separately, B. Riley restated a “buy” rating and set a $6.00 price objective on shares of enCore Energy in a report on Wednesday, May 15th.

enCore Energy Stock Performance

NASDAQ:EU opened at $4.15 on Friday. enCore Energy has a 52 week low of $2.16 and a 52 week high of $5.05. The company has a fifty day moving average price of $4.49. The company has a market cap of $765.26 million, a price-to-earnings ratio of -31.92 and a beta of 0.14.

enCore Energy (NASDAQ:EU) last released its earnings results on Friday, May 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $30.40 million for the quarter, compared to the consensus estimate of $3.30 million. As a group, equities analysts expect that enCore Energy will post -0.06 EPS for the current year.

Hedge Funds Weigh In On enCore Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EU. Mirae Asset Global Investments Co. Ltd. boosted its position in enCore Energy by 7.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,260,952 shares of the company’s stock worth $32,640,000 after purchasing an additional 541,050 shares during the period. HTLF Bank purchased a new stake in shares of enCore Energy in the fourth quarter worth about $983,000. Fourth Sail Capital LP purchased a new stake in shares of enCore Energy in the fourth quarter worth about $5,519,000. Arlington Capital Management Inc. purchased a new stake in shares of enCore Energy in the fourth quarter worth about $853,000. Finally, Paradice Investment Management LLC purchased a new stake in shares of enCore Energy in the fourth quarter worth about $239,000. Institutional investors 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.