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

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EU shares. Ventum Cap Mkts upgraded enCore Energy to a “strong-buy” rating in a report on Thursday, August 22nd. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of enCore Energy in a report on Monday, October 7th.

enCore Energy Stock Up 0.6 %

The company has a market cap of $667.88 million, a PE ratio of -29.91 and a beta of 0.05. The firm has a 50 day simple moving average of $3.92 and a 200-day simple moving average of $3.99.

enCore Energy (NASDAQ:EU) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company had revenue of $5.32 million for the quarter, compared to analysts’ expectations of $13.10 million. As a group, equities analysts anticipate that enCore Energy Corp. will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EU. Rathbones Group PLC acquired a new stake in enCore Energy in the second quarter valued at approximately $39,000. Xponance Inc. purchased a new position in enCore Energy in the 2nd quarter valued at approximately $43,000. Sei Investments Co. purchased a new stake in shares of enCore Energy during the 2nd quarter worth $46,000. Virtu Financial LLC purchased a new stake in enCore Energy in the first quarter valued at $84,000. Finally, Principal Financial Group Inc. increased its stake in enCore Energy by 19.6% in the second quarter. Principal Financial Group Inc. now owns 22,317 shares of the company’s stock valued at $88,000 after purchasing an additional 3,652 shares during the period. 20.86% of the stock is currently owned by hedge funds and other institutional investors.

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.