Short Interest in enCore Energy Corp. (NASDAQ:EU) Expands By 15.6%

enCore Energy Corp. (NASDAQ:EU) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 7,800,000 shares, an increase of 15.6% from the October 15th total of 6,750,000 shares. Approximately 4.3% of the shares of the company are sold short. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is currently 6.5 days.

Analyst Upgrades and Downgrades

EU has been the topic of several recent analyst reports. Ventum Cap Mkts upgraded shares of enCore Energy to a “strong-buy” rating in a research report on Thursday, August 22nd. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of enCore Energy in a report on Monday, October 7th.

Hedge Funds Weigh In On enCore Energy

Several hedge funds have recently modified their holdings of EU. Rathbones Group PLC purchased a new stake in shares of enCore Energy in the second quarter worth about $39,000. Xponance Inc. purchased a new stake in shares of enCore Energy during the 2nd quarter worth approximately $43,000. Sei Investments Co. bought a new position in shares of enCore Energy during the 2nd quarter valued at approximately $46,000. Virtu Financial LLC bought a new position in shares of enCore Energy during the 1st quarter valued at approximately $84,000. Finally, Principal Financial Group Inc. grew its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 20.86% of the company’s stock.

enCore Energy Price Performance

EU stock opened at $3.59 on Monday. enCore Energy has a 1-year low of $3.02 and a 1-year high of $5.05. The business has a 50 day simple moving average of $3.92 and a two-hundred day simple moving average of $3.99. The company has a market capitalization of $667.88 million, a price-to-earnings ratio of -12.82 and a beta of 0.05.

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.