enCore Energy (NASDAQ:EU) Shares Up 5% – Here’s What Happened

enCore Energy Corp. (NASDAQ:EU)’s stock price rose 5% during mid-day trading on Friday . The company traded as high as $3.77 and last traded at $3.75. Approximately 260,121 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 1,212,757 shares. The stock had previously closed at $3.57.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EU. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of enCore Energy in a report on Monday, October 7th. Ventum Cap Mkts upgraded shares of enCore Energy to a “strong-buy” rating in a report on Thursday, August 22nd.

enCore Energy Price Performance

The stock has a market capitalization of $680.91 million, a P/E ratio of -32.08 and a beta of 0.05. The company has a fifty day moving average of $3.91 and a two-hundred day moving average of $4.00.

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

Institutional Investors Weigh In On enCore Energy

A number of hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp boosted its holdings in shares of enCore Energy by 89.3% in the third quarter. Van ECK Associates Corp now owns 2,434,342 shares of the company’s stock valued at $9,762,000 after acquiring an additional 1,148,056 shares in the last quarter. Azarias Capital Management L.P. raised its position in enCore Energy by 28.1% in the second quarter. Azarias Capital Management L.P. now owns 4,814,976 shares of the company’s stock worth $20,590,000 after acquiring an additional 1,056,483 shares in the last quarter. Vident Advisory LLC lifted its holdings in enCore Energy by 21.3% in the 1st quarter. Vident Advisory LLC now owns 1,575,173 shares of the company’s stock valued at $6,693,000 after acquiring an additional 276,211 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. Finally, Accordant Advisory Group Inc acquired a new position in shares of enCore Energy in the 2nd quarter worth approximately $660,000. Institutional investors own 20.86% of the company’s stock.

About enCore Energy

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.