enCore Energy (NASDAQ:EU) Shares Gap Up – Should You Buy?

Shares of enCore Energy Corp. (NASDAQ:EU) gapped up prior to trading on Thursday . The stock had previously closed at $3.25, but opened at $3.40. enCore Energy shares last traded at $3.31, with a volume of 147,510 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Ventum Cap Mkts raised enCore Energy to a “strong-buy” rating in a research note on Thursday, August 22nd. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of enCore Energy in a report on Tuesday, November 19th.

enCore Energy Stock Up 1.2 %

The firm has a market cap of $612.27 million, a P/E ratio of -11.75 and a beta of -0.04. The business has a fifty day moving average of $3.78 and a 200 day moving average of $3.81.

Institutional Investors Weigh In On enCore Energy

Large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its holdings in enCore Energy by 89.3% in 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. Azarias Capital Management L.P. increased its position in enCore Energy by 28.1% during the 2nd quarter. Azarias Capital Management L.P. now owns 4,814,976 shares of the company’s stock valued at $20,590,000 after purchasing an additional 1,056,483 shares during the period. National Bank of Canada FI bought a new position in shares of enCore Energy in the 3rd quarter worth approximately $832,000. State Street Corp increased its holdings in shares of enCore Energy by 3.5% during the third quarter. State Street Corp now owns 3,085,686 shares of the company’s stock valued at $12,466,000 after acquiring an additional 105,685 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC increased its position in shares of enCore Energy by 10.7% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,082,548 shares of the company’s stock valued at $4,265,000 after purchasing an additional 104,900 shares during the last quarter. Institutional investors and hedge funds own 20.86% of the company’s stock.

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.