enCore Energy (NASDAQ:EU) Issues Earnings Results

enCore Energy (NASDAQ:EU) released its quarterly earnings data on Thursday. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03), Zacks reports. enCore Energy had a negative net margin of 131.75% and a negative return on equity of 20.72%. The firm had revenue of $18.30 million during the quarter, compared to analysts’ expectations of $9.30 million.

enCore Energy Price Performance

Shares of NASDAQ EU traded down $0.09 during trading on Friday, hitting $1.54. The company had a trading volume of 1,295,720 shares, compared to its average volume of 3,048,145. The stock has a fifty day simple moving average of $1.89 and a two-hundred day simple moving average of $2.46. enCore Energy has a fifty-two week low of $1.52 and a fifty-two week high of $4.19. The firm has a market capitalization of $298.13 million, a price-to-earnings ratio of -4.95 and a beta of 2.18. The company has a quick ratio of 7.64, a current ratio of 8.03 and a debt-to-equity ratio of 0.43.

Analyst Ratings Changes

Several brokerages have recently issued reports on EU. HC Wainwright dropped their target price on shares of enCore Energy from $4.00 to $3.75 and set a “buy” rating on the stock in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of enCore Energy in a research report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.75.

Hedge Funds Weigh In On enCore Energy

A number of institutional investors and hedge funds have recently bought and sold shares of EU. NewEdge Advisors LLC grew its stake in enCore Energy by 13.2% during the 1st quarter. NewEdge Advisors LLC now owns 294,405 shares of the company’s stock valued at $403,000 after acquiring an additional 34,250 shares in the last quarter. Creative Planning grew its stake in enCore Energy by 66.1% during the 2nd quarter. Creative Planning now owns 24,162 shares of the company’s stock valued at $69,000 after acquiring an additional 9,612 shares in the last quarter. Prudential Financial Inc. grew its stake in enCore Energy by 68.9% during the 2nd quarter. Prudential Financial Inc. now owns 20,550 shares of the company’s stock valued at $59,000 after acquiring an additional 8,380 shares in the last quarter. Marshall Wace LLP grew its stake in enCore Energy by 293.9% during the 2nd quarter. Marshall Wace LLP now owns 1,262,065 shares of the company’s stock valued at $3,610,000 after acquiring an additional 941,691 shares in the last quarter. Finally, Main Street Financial Solutions LLC purchased a new stake in enCore Energy during the 2nd quarter valued at about $87,000. 20.86% of the stock is currently owned by institutional investors and hedge funds.

enCore Energy Company Profile

enCore Energy Inc is a U.S.-based uranium exploration and development company focused on deploying in-situ recovery (ISR) technology to bring domestic uranium projects into production. The company’s operations are centered on the Nichols Ranch ISR facility in Wyoming, which represents enCore’s flagship asset and its nearest-term production opportunity. Through ISR methods, enCore seeks to extract uranium with lower environmental impact and capital requirements relative to conventional mining.

In addition to Nichols Ranch, enCore holds a diversified portfolio of uranium properties in the western United States, including the Roca Honda project in New Mexico and several ISR-amenable projects in the Texas and Oklahoma regions.