enCore Energy (NASDAQ:EU) Stock Price Up 6.8% – Time to Buy?

enCore Energy Corp. (NASDAQ:EU) was up 6.8% during trading on Wednesday . The company traded as high as $3.56 and last traded at $3.5550. Approximately 1,987,264 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 3,307,727 shares. The stock had previously closed at $3.33.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EU. Weiss Ratings reissued a “sell (d-)” rating on shares of enCore Energy in a research report on Wednesday, January 21st. Northland Securities began coverage on shares of enCore Energy in a research report on Tuesday, January 6th. They issued an “outperform” rating and a $3.50 price target for the company. Finally, Wall Street Zen cut enCore Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.83.

enCore Energy Price Performance

The stock has a 50-day moving average price of $2.76 and a 200 day moving average price of $2.80. The firm has a market cap of $681.02 million, a price-to-earnings ratio of -12.98 and a beta of 2.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 13.64 and a quick ratio of 12.48.

enCore Energy (NASDAQ:EU) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $8.88 million for the quarter. enCore Energy had a negative return on equity of 19.83% and a negative net margin of 118.78%. As a group, equities research analysts forecast that enCore Energy Corp. will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at enCore Energy

In other enCore Energy news, insider William M. Sheriff sold 24,000 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $2.37, for a total transaction of $56,880.00. Following the completion of the transaction, the insider owned 2,262,055 shares in the company, valued at approximately $5,361,070.35. This represents a 1.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 74,500 shares of company stock valued at $188,510. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On enCore Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC purchased a new position in enCore Energy in the second quarter valued at about $29,000. Los Angeles Capital Management LLC purchased a new position in enCore Energy in the 2nd quarter valued at approximately $68,000. Atria Wealth Solutions Inc. purchased a new stake in enCore Energy during the second quarter worth $88,000. Azarias Capital Management L.P. grew its holdings in enCore Energy by 9.6% in the third quarter. Azarias Capital Management L.P. now owns 4,032,939 shares of the company’s stock valued at $12,946,000 after purchasing an additional 352,775 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of enCore Energy in the second quarter valued at $35,000. Hedge funds and other institutional investors own 20.86% of the company’s stock.

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.