enCore Energy (NASDAQ:EU) Stock Price Up 5.6% – Time to Buy?

enCore Energy Corp. (NASDAQ:EU) shares traded up 5.6% on Tuesday . The stock traded as high as $3.51 and last traded at $3.51. 243,738 shares changed hands during trading, a decline of 82% from the average session volume of 1,390,825 shares. The stock had previously closed at $3.32.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of enCore Energy in a research note on Tuesday, November 19th.

enCore Energy Trading Up 1.1 %

The firm has a market cap of $679.34 million, a P/E ratio of -13.04 and a beta of 0.14. The stock has a 50 day simple moving average of $3.51 and a 200-day simple moving average of $3.69.

Insider Buying and Selling

In related news, Director William M. Sheriff sold 24,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.55, for a total transaction of $85,200.00. Following the sale, the director now owns 2,144,055 shares in the company, valued at approximately $7,611,395.25. This represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. purchased a new position in enCore Energy during the 2nd quarter valued at $179,000. Sei Investments Co. bought a new position in shares of enCore Energy in the second quarter worth about $46,000. Xponance Inc. bought a new stake in enCore Energy during the 2nd quarter valued at about $43,000. Squarepoint Ops LLC boosted its position in enCore Energy by 43.3% in the 2nd quarter. Squarepoint Ops LLC now owns 123,603 shares of the company’s stock valued at $487,000 after buying an additional 37,377 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in enCore Energy by 10.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 143,895 shares of the company’s stock worth $567,000 after acquiring an additional 13,908 shares in the last quarter. 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.