enCore Energy (NASDAQ:EU) Stock Price Target Lowered at HC Wainwright

enCore Energy (NASDAQ:EU) had its price target dropped by research analysts at HC Wainwright to $1.50 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright‘s target price would indicate a potential upside of 178.29% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Zacks Research raised enCore Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Jefferies Financial Group initiated coverage on enCore Energy in a research report on Thursday, September 3rd. They issued a “buy” rating and a $1.44 price objective on the stock. B. Riley Financial reiterated a “buy” rating on shares of enCore Energy in a research note on Wednesday, October 28th. Wall Street Zen downgraded enCore Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 26th. Finally, Weiss Ratings downgraded enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2.23.

enCore Energy Stock Performance

enCore Energy stock opened at $0.54 on Friday. 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 $105.47 million, a P/E ratio of -1.63 and a beta of 2.29. enCore Energy has a 1-year low of $0.53 and a 1-year high of $3.67. The company’s 50-day moving average is $0.93 and its 200 day moving average is $1.55.

enCore Energy (NASDAQ:EU) last announced its earnings results on Thursday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.05). enCore Energy had a negative net margin of 112.82% and a negative return on equity of 28.00%. The business had revenue of $16.69 million for the quarter. Research analysts forecast that enCore Energy will post -0.41 EPS for the current year.

Insider Activity at enCore Energy

In other news, Chairman William Sheriff purchased 100,000 shares of the stock in a transaction that occurred on Friday, September 18th. The stock was purchased at an average price of $0.81 per share, for a total transaction of $81,000.00. Following the completion of the acquisition, the chairman owned 1,662,169 shares of the company’s stock, valued at approximately $1,346,356.89. This trade represents a 6.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Susan Hoxie-Key sold 30,648 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 60,918 shares in the company, valued at approximately $57,262.92. This trade represents a 33.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have bought 310,000 shares of company stock valued at $262,100 in the last ninety days. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On enCore Energy

Several hedge funds have recently made changes to their positions in the company. Tidal Investments LLC bought a new position in shares of enCore Energy during the 2nd quarter worth $2,755,000. Bank of New York Mellon Corp purchased a new stake in enCore Energy in the second quarter worth about $725,000. Themes Management Co LLC lifted its stake in enCore Energy by 187.2% in the first quarter. Themes Management Co LLC now owns 246,624 shares of the company’s stock worth $447,000 after acquiring an additional 160,765 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in enCore Energy by 90.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 236,373 shares of the company’s stock worth $310,000 after acquiring an additional 112,130 shares in the last quarter. Finally, J. Derek Lewis & Associates Inc. grew its holdings in enCore Energy by 82.8% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 53,000 shares of the company’s stock worth $95,000 after acquiring an additional 24,000 shares in the last quarter. 20.86% of the stock is currently owned by hedge funds and other institutional investors.

enCore Energy Company Profile

enCore Energy Corp. is a U.S. uranium company focused on producing uranium for the nuclear fuel industry. The company uses in-situ recovery (ISR), a method that circulates a solution through underground uranium deposits to recover the uranium without conventional open-pit or underground mining. Its portfolio includes the Rosita and Alta Mesa projects in South Texas, as well as uranium assets in other parts of the United States. The company has developed processing facilities and wellfields to support ISR production, and its product is uranium concentrate used in the nuclear fuel cycle. enCore’s focus on domestic uranium resources reflects its aim to supply U.S. utilities and other customers.