enCore Energy (NASDAQ:EU) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of enCore Energy (NASDAQ:EU) from a hold rating to a strong sell rating in a research report report published on Tuesday,Zacks.com reports.

EU has been the subject of several other reports. HC Wainwright reduced their price objective on enCore Energy from $4.00 to $3.75 and set a “buy” rating for the company in a research report on Friday, May 15th. Northland Securities set a $3.75 target price on shares of enCore Energy in a research report on Monday, May 18th. Wall Street Zen upgraded shares of enCore Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised shares of enCore Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.83.

enCore Energy Stock Performance

EU opened at $1.22 on Tuesday. The company has a quick ratio of 10.25, a current ratio of 11.08 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average price is $1.46 and its two-hundred day moving average price is $2.07. The firm has a market capitalization of $236.99 million, a P/E ratio of -8.13 and a beta of 2.06. enCore Energy has a 12-month low of $1.18 and a 12-month high of $4.18.

Insider Transactions at enCore Energy

In other news, Chairman William M. Sheriff acquired 25,000 shares of the stock in a transaction dated Monday, May 18th. The shares were acquired at an average cost of $1.47 per share, for a total transaction of $36,750.00. Following the completion of the transaction, the chairman owned 25,000 shares in the company, valued at approximately $36,750. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Richard H. Little bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $1.28 per share, with a total value of $64,000.00. Following the completion of the purchase, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at $64,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 259,905 shares of company stock worth $362,534 over the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On enCore Energy

A number of institutional investors have recently bought and sold shares of the business. Nomura Holdings Inc. acquired a new position in shares of enCore Energy in the 3rd quarter valued at $4,590,000. Two Sigma Investments LP bought a new position in shares of enCore Energy during the 3rd quarter worth about $3,804,000. GeoSphere Capital Management LLC boosted its position in shares of enCore Energy by 333.3% during the 4th quarter. GeoSphere Capital Management LLC now owns 1,300,000 shares of the company’s stock valued at $3,224,000 after acquiring an additional 1,000,000 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of enCore Energy during the 4th quarter valued at about $2,379,000. Finally, Marshall Wace LLP increased its stake in enCore Energy by 293.9% in the second quarter. Marshall Wace LLP now owns 1,262,065 shares of the company’s stock valued at $3,610,000 after acquiring an additional 941,691 shares during the period. Institutional investors and hedge funds own 20.86% of the company’s stock.

enCore Energy Company Profile

enCore Energy Inc is a U.S.-based uranium exploration and development company focused on deploying in-situ recovery (ISR) technology to bring domestic uranium projects into production. The company’s operations are centered on the Nichols Ranch ISR facility in Wyoming, which represents enCore’s flagship asset and its nearest-term production opportunity. Through ISR methods, enCore seeks to extract uranium with lower environmental impact and capital requirements relative to conventional mining.

In addition to Nichols Ranch, enCore holds a diversified portfolio of uranium properties in the western United States, including the Roca Honda project in New Mexico and several ISR-amenable projects in the Texas and Oklahoma regions.