enCore Energy (NASDAQ:EU) Trading Down 4%

enCore Energy Corp. (NASDAQ:EU)’s share price dropped 4% on Friday . The company traded as low as $3.54 and last traded at $3.58. Approximately 216,336 shares were traded during trading, a decline of 82% from the average daily volume of 1,200,660 shares. The stock had previously closed at $3.73.

Analysts Set New Price Targets

EU has been the subject of a number of recent research reports. Ventum Cap Mkts raised enCore Energy to a “strong-buy” rating in a research report on Thursday, August 22nd. HC Wainwright decreased their price objective on enCore Energy from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 15th.

enCore Energy Price Performance

The firm has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $4.08. The company has a market cap of $676.76 million, a PE ratio of -28.31 and a beta of -0.03.

enCore Energy (NASDAQ:EU) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). The business had revenue of $5.32 million during the quarter, compared to the consensus estimate of $13.10 million. Equities research analysts forecast that enCore Energy Corp. will post -0.11 EPS for the current year.

Institutional Investors Weigh In On enCore Energy

Several hedge funds have recently made changes to their positions in EU. The Manufacturers Life Insurance Company boosted its holdings in enCore Energy by 10.7% in the second quarter. The Manufacturers Life Insurance Company now owns 143,895 shares of the company’s stock valued at $567,000 after acquiring an additional 13,908 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in enCore Energy by 43.3% in the second quarter. Squarepoint Ops LLC now owns 123,603 shares of the company’s stock valued at $487,000 after acquiring an additional 37,377 shares during the last quarter. Xponance Inc. acquired a new position in enCore Energy in the second quarter valued at $43,000. Sei Investments Co. acquired a new position in enCore Energy in the second quarter valued at $46,000. Finally, Goehring & Rozencwajg Associates LLC boosted its holdings in enCore Energy by 10.7% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,082,548 shares of the company’s stock valued at $4,265,000 after acquiring an additional 104,900 shares during the last quarter. Institutional investors and hedge funds 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.