Wall Street Zen Downgrades enCore Energy (NASDAQ:EU) to Strong Sell

enCore Energy (NASDAQ:EU) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a report released on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently commented on EU. Jefferies Financial Group initiated coverage on enCore Energy in a research note on Thursday, September 3rd. They issued a “buy” rating and a $1.44 price target on the stock. Zacks Research cut enCore Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. HC Wainwright reduced their price objective on shares of enCore Energy from $3.75 to $3.50 and set a “buy” rating on the stock in a research report on Friday, August 14th. Finally, Weiss Ratings lowered shares of enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, enCore Energy presently has a consensus rating of “Hold” and a consensus price target of $2.90.

enCore Energy Price Performance

Shares of NASDAQ:EU opened at $1.24 on Friday. enCore Energy has a one year low of $0.77 and a one year high of $4.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.00 and a quick ratio of 6.84. The firm has a market capitalization of $240.91 million, a price-to-earnings ratio of -3.76 and a beta of 2.13. The company’s fifty day moving average price is $1.17 and its 200-day moving average price is $1.48.

enCore Energy (NASDAQ:EU) last announced its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.11). The company had revenue of $15.70 million during the quarter. enCore Energy had a negative return on equity of 28.00% and a negative net margin of 112.82%. On average, equities research analysts anticipate that enCore Energy will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at enCore Energy

In other news, Chairman William Sheriff bought 100,000 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were purchased at an average price of $0.84 per share, for a total transaction of $84,000.00. Following the completion of the purchase, the chairman owned 1,512,169 shares in the company, valued at approximately $1,270,221.96. This represents a 7.08% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought 310,000 shares of company stock valued at $262,100 over the last three months. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Azarias Capital Management L.P. boosted its stake in shares of enCore Energy by 22.6% in the 1st quarter. Azarias Capital Management L.P. now owns 5,067,708 shares of the company’s stock worth $9,122,000 after buying an additional 934,857 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of enCore Energy during the second quarter valued at approximately $2,755,000. Goehring & Rozencwajg Associates LLC increased its holdings in enCore Energy by 19.3% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,464,724 shares of the company’s stock valued at $2,637,000 after acquiring an additional 237,469 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in enCore Energy in the 4th quarter worth $2,379,000. Finally, Bank of New York Mellon Corp bought a new position in enCore Energy during the second quarter valued at approximately $725,000. 20.86% of the stock is owned by institutional investors.

enCore Energy Company Profile

enCore Energy Corp. is a uranium exploration, development and production company focused on advancing domestic uranium resources in the United States. The company uses in-situ recovery (ISR) technology, which extracts uranium from suitable underground formations by circulating a solution through the deposit and processing the resulting uranium-bearing fluids at a recovery plant.

enCore’s portfolio includes uranium projects and production facilities in South Texas, including the Alta Mesa and Rosita projects.