enCore Energy (NASDAQ:EU) Trading Up 5% – Here’s Why

enCore Energy Corp. (NASDAQ:EU) was up 5% during mid-day trading on Friday . The stock traded as high as $3.77 and last traded at $3.75. Approximately 260,121 shares were traded during trading, a decline of 79% from the average daily volume of 1,212,757 shares. The stock had previously closed at $3.57.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Ventum Cap Mkts raised shares of enCore Energy to a “strong-buy” rating in a research note on Thursday, August 22nd. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of enCore Energy in a research report on Monday, October 7th.

enCore Energy Stock Performance

The stock has a market capitalization of $680.91 million, a PE ratio of -32.08 and a beta of 0.05. The firm has a 50 day moving average of $3.91 and a 200-day moving average of $4.00.

enCore Energy (NASDAQ:EU) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company had revenue of $5.32 million during the quarter, compared to analyst estimates of $13.10 million. On average, sell-side analysts predict that enCore Energy Corp. will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EU. Verition Fund Management LLC acquired a new position in shares of enCore Energy during the 3rd quarter valued at about $96,000. Charles Schwab Investment Management Inc. grew its holdings in enCore Energy by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,297 shares of the company’s stock valued at $1,767,000 after purchasing an additional 15,740 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of enCore Energy in the third quarter valued at approximately $110,000. Arlington Capital Management Inc. lifted its stake in shares of enCore Energy by 2.6% in the third quarter. Arlington Capital Management Inc. now owns 222,035 shares of the company’s stock worth $897,000 after buying an additional 5,655 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of enCore Energy by 89.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,434,342 shares of the company’s stock worth $9,762,000 after buying an additional 1,148,056 shares during the period. 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.