enCore Energy (NASDAQ:EU) Shares Gap Down – What’s Next?

enCore Energy Corp. (NASDAQ:EU)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $4.40, but opened at $4.27. enCore Energy shares last traded at $4.26, with a volume of 602,603 shares changing hands.

Analyst Ratings Changes

EU has been the topic of a number of recent analyst reports. Ventum Cap Mkts upgraded enCore Energy to a “strong-buy” rating in a report on Thursday, August 22nd. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of enCore Energy in a report on Monday, October 7th.

enCore Energy Stock Down 6.5 %

The company has a 50-day moving average of $3.77 and a 200 day moving average of $4.06. The firm has a market capitalization of $739.46 million, a PE ratio of -30.69 and a beta of -0.02.

enCore Energy (NASDAQ:EU) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The firm had revenue of $5.32 million during the quarter, compared to analysts’ expectations of $13.10 million. As a group, equities analysts anticipate that enCore Energy Corp. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On enCore Energy

Several institutional investors have recently bought and sold shares of EU. Azarias Capital Management L.P. boosted its holdings in enCore Energy by 232.0% during the 1st quarter. Azarias Capital Management L.P. now owns 3,758,493 shares of the company’s stock valued at $18,013,000 after acquiring an additional 2,626,395 shares during the period. MMCAP International Inc. SPC bought a new position in enCore Energy during the 1st quarter valued at approximately $11,055,000. Van ECK Associates Corp bought a new position in enCore Energy during the 1st quarter valued at approximately $3,399,000. Vident Advisory LLC raised its position in enCore Energy by 21.3% during the 1st quarter. Vident Advisory LLC now owns 1,575,173 shares of the company’s stock valued at $6,693,000 after purchasing an additional 276,211 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in enCore Energy by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 922,691 shares of the company’s stock valued at $4,041,000 after purchasing an additional 249,307 shares during 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. 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.