enCore Energy (NASDAQ:EU) Shares Up 7.3% – Here’s Why

enCore Energy Corp. (NASDAQ:EU) shares shot up 7.3% on Wednesday . The company traded as high as $4.26 and last traded at $4.25. 2,061,946 shares were traded during trading, an increase of 70% from the average session volume of 1,214,741 shares. The stock had previously closed at $3.96.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of enCore Energy in a research note on Monday, October 7th. Ventum Cap Mkts raised enCore Energy to a “strong-buy” rating in a research report on Thursday, August 22nd.

enCore Energy Trading Up 4.0 %

The company has a market capitalization of $811.38 million, a PE ratio of -33.08 and a beta of -0.02. The business has a fifty day moving average of $3.71 and a 200 day moving average of $4.07.

enCore Energy (NASDAQ:EU) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The firm had revenue of $5.32 million during the quarter, compared to analyst estimates of $13.10 million. Equities analysts forecast that enCore Energy Corp. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On enCore Energy

Several institutional investors have recently modified their holdings of the company. Azarias Capital Management L.P. raised its holdings in enCore Energy by 28.1% during the second quarter. Azarias Capital Management L.P. now owns 4,814,976 shares of the company’s stock worth $20,590,000 after purchasing an additional 1,056,483 shares in the last quarter. MMCAP International Inc. SPC purchased a new stake in enCore Energy in the first quarter valued at $11,055,000. Vident Advisory LLC boosted its stake in enCore Energy by 21.3% in the first quarter. Vident Advisory LLC now owns 1,575,173 shares of the company’s stock valued at $6,693,000 after acquiring an additional 276,211 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of enCore Energy by 65.7% during the second quarter. Van ECK Associates Corp now owns 1,286,286 shares of the company’s stock worth $5,068,000 after purchasing an additional 510,176 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC increased its position in enCore Energy by 10.7% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,082,548 shares of the company’s stock worth $4,265,000 after buying an additional 104,900 shares during the period. 20.86% of the stock is owned by hedge funds and other institutional investors.

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.