enCore Energy (NASDAQ:EU) Trading Down 4.6% – What’s Next?

enCore Energy Corp. (NASDAQ:EU)’s share price dropped 4.6% during trading on Friday . The company traded as low as $3.51 and last traded at $3.53. Approximately 437,620 shares changed hands during trading, a decline of 75% from the average daily volume of 1,774,027 shares. The stock had previously closed at $3.70.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of enCore Energy in a research note on Tuesday, November 19th.

enCore Energy Price Performance

The company has a 50-day moving average of $3.61 and a 200 day moving average of $3.75. The company has a market cap of $653.26 million, a PE ratio of -12.54 and a beta of -0.04.

Institutional Trading of enCore Energy

A number of hedge funds have recently added to or reduced their stakes in EU. Rathbones Group PLC purchased a new stake in shares of enCore Energy during the 2nd quarter valued at $39,000. Xponance Inc. purchased a new stake in enCore Energy in the second quarter valued at about $43,000. Sei Investments Co. acquired a new stake in enCore Energy in the second quarter worth about $46,000. Franklin Resources Inc. acquired a new position in shares of enCore Energy during the third quarter valued at about $60,000. Finally, Principal Financial Group Inc. raised its position in shares of enCore Energy by 19.6% in the 2nd 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 last quarter. 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.