enCore Energy (NASDAQ:EU) Posts Quarterly Earnings Results

enCore Energy (NASDAQ:EU) released its quarterly earnings data on Monday. The company reported ($0.07) EPS for the quarter, Zacks reports. enCore Energy had a negative net margin of 143.28% and a negative return on equity of 19.23%.

enCore Energy Stock Performance

EU traded up $0.10 on Monday, hitting $2.74. 2,049,845 shares of the company were exchanged, compared to its average volume of 3,117,984. The stock’s fifty day moving average is $2.94 and its 200-day moving average is $2.55. enCore Energy has a 12 month low of $1.01 and a 12 month high of $4.18. The company has a market cap of $511.83 million, a PE ratio of -7.81 and a beta of 1.98.

Insider Activity at enCore Energy

In related news, Director Dennis Stover sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $3.54, for a total value of $70,800.00. Following the completion of the transaction, the director directly owned 468,500 shares of the company’s stock, valued at approximately $1,658,490. This trade represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William B. Harris sold 80,000 shares of the company’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $3.41, for a total transaction of $272,800.00. Following the sale, the director directly owned 280,001 shares in the company, valued at $954,803.41. This trade represents a 22.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 120,000 shares of company stock worth $410,200 in the last ninety days. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On enCore Energy

A number of institutional investors and hedge funds have recently modified their holdings of EU. Osaic Holdings Inc. acquired a new stake in enCore Energy in the 2nd quarter valued at about $29,000. Tower Research Capital LLC TRC raised its stake in enCore Energy by 88.0% in the second quarter. Tower Research Capital LLC TRC now owns 16,105 shares of the company’s stock valued at $46,000 after buying an additional 7,540 shares during the period. Raymond James Financial Inc. lifted its position in shares of enCore Energy by 25.1% in the second quarter. Raymond James Financial Inc. now owns 19,968 shares of the company’s stock valued at $57,000 after buying an additional 4,000 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of enCore Energy by 68.9% during the 2nd quarter. Prudential Financial Inc. now owns 20,550 shares of the company’s stock worth $59,000 after acquiring an additional 8,380 shares during the period. Finally, Creative Planning boosted its stake in shares of enCore Energy by 66.1% during the 2nd quarter. Creative Planning now owns 24,162 shares of the company’s stock worth $69,000 after acquiring an additional 9,612 shares during the period. 20.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EU has been the subject of a number of research analyst reports. Wall Street Zen raised enCore Energy from a “sell” rating to a “hold” rating in a research note on Monday, September 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of enCore Energy in a research report on Wednesday, October 8th. HC Wainwright increased their target price on enCore Energy from $2.75 to $4.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. B. Riley started coverage on shares of enCore Energy in a research note on Wednesday, July 23rd. They issued a “buy” rating and a $4.00 price target on the stock. Finally, Zacks Research upgraded shares of enCore Energy to a “hold” rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

About enCore Energy

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.