Azarias Capital Management L.P. Sells 1,943,413 Shares of enCore Energy Corp. $EU

Azarias Capital Management L.P. cut its holdings in enCore Energy Corp. (NASDAQ:EU) by 47.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,148,481 shares of the company’s stock after selling 1,943,413 shares during the quarter. enCore Energy comprises 2.2% of Azarias Capital Management L.P.’s portfolio, making the stock its 17th largest position. Azarias Capital Management L.P. owned approximately 1.11% of enCore Energy worth $2,320,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in shares of enCore Energy during the 4th quarter valued at $2,379,000. Tidal Investments LLC bought a new position in shares of enCore Energy in the 2nd quarter worth $2,755,000. Bank of New York Mellon Corp bought a new position in shares of enCore Energy in the 2nd quarter worth $725,000. Royal Bank of Canada grew its stake in shares of enCore Energy by 154.5% during the first quarter. Royal Bank of Canada now owns 31,744 shares of the company’s stock worth $57,000 after purchasing an additional 19,269 shares during the period. Finally, Flax Pond Capital LLC acquired a new stake in shares of enCore Energy during the fourth quarter worth $378,000. Institutional investors and hedge funds own 20.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings downgraded enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. Zacks Research upgraded enCore Energy from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Wall Street Zen cut enCore Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, September 26th. HC Wainwright decreased their target price on enCore Energy from $3.75 to $3.50 and set a “buy” rating for the company in a research report on Friday, August 14th. Finally, 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 for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, enCore Energy presently has a consensus rating of “Moderate Buy” and an average target price of $2.90.

Insider Activity

In other enCore Energy news, Chairman William M. Sheriff purchased 100,000 shares of the stock in a transaction on Monday, September 14th. The stock was bought at an average cost of $0.84 per share, for a total transaction of $84,000.00. Following the completion of the acquisition, the chairman directly owned 1,512,169 shares of the company’s stock, valued at $1,270,221.96. The trade was a 7.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan Hoxie-Key sold 30,648 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $0.94, for a total value of $28,809.12. Following the completion of the sale, the director owned 60,918 shares of the company’s stock, valued at $57,262.92. This trade represents a 33.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have acquired 310,000 shares of company stock worth $262,100. Corporate insiders own 3.00% of the company’s stock.

enCore Energy Trading Down 7.1%

EU traded down $0.06 during mid-day trading on Wednesday, hitting $0.85. The stock had a trading volume of 3,801,479 shares, compared to its average volume of 3,712,472. The stock’s fifty day simple moving average is $1.15 and its 200-day simple moving average is $1.41. The firm has a market capitalization of $164.75 million, a price-to-earnings ratio of -2.57 and a beta of 2.16. enCore Energy Corp. has a 1-year low of $0.77 and a 1-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.

enCore Energy (NASDAQ:EU) last announced its quarterly 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). enCore Energy had a negative net margin of 112.82% and a negative return on equity of 28.00%. The firm had revenue of $15.70 million during the quarter. As a group, research analysts forecast that enCore Energy Corp. will post -0.41 EPS for the current fiscal year.

About enCore Energy

enCore Energy Corp. is a uranium company focused on the exploration, development and production of uranium in the United States. The company uses in-situ recovery (ISR), a method that extracts uranium from underground deposits by circulating a solution through the host formation and processing the recovered material at licensed facilities.

enCore’s portfolio is concentrated in South Texas and includes the Rosita and Alta Mesa uranium processing facilities, along with associated well fields, mineral rights and development projects.