enCore Energy Corp. (NASDAQ:EU) Short Interest Up 47.7% in October

enCore Energy Corp. (NASDAQ:EU) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 6,750,000 shares, an increase of 47.7% from the September 30th total of 4,570,000 shares. Approximately 3.7% of the company’s stock are short sold. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is presently 5.6 days.

Analyst Ratings Changes

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

Institutional Investors Weigh In On enCore Energy

Institutional investors have recently made changes to their positions in the business. Azarias Capital Management L.P. raised its holdings in enCore Energy by 232.0% in the 1st quarter. Azarias Capital Management L.P. now owns 3,758,493 shares of the company’s stock worth $18,013,000 after purchasing an additional 2,626,395 shares in the last quarter. MMCAP International Inc. SPC purchased a new position in shares of enCore Energy in the first quarter worth approximately $11,055,000. Van ECK Associates Corp purchased a new position in shares of enCore Energy in the first quarter worth approximately $3,399,000. Vident Advisory LLC boosted its holdings in shares of enCore Energy by 21.3% in the first quarter. Vident Advisory LLC now owns 1,575,173 shares of the company’s stock worth $6,693,000 after buying an additional 276,211 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in enCore Energy by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 922,691 shares of the company’s stock worth $4,041,000 after acquiring an additional 249,307 shares during the period. Hedge funds and other institutional investors own 20.86% of the company’s stock.

enCore Energy Stock Performance

EU stock traded down $0.06 during mid-day trading on Tuesday, hitting $3.94. The company had a trading volume of 236,471 shares, compared to its average volume of 1,214,972. The firm has a market cap of $730.66 million, a PE ratio of -30.77 and a beta of -0.02. enCore Energy has a 12 month low of $3.00 and a 12 month high of $5.05. The stock’s fifty day moving average price is $3.83 and its two-hundred day moving average price is $4.04.

enCore Energy (NASDAQ:EU) last posted its earnings results on Wednesday, August 14th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The company had revenue of $5.32 million for the quarter, compared to analyst estimates of $13.10 million. Equities analysts anticipate that enCore Energy will post -0.11 earnings per share for the current year.

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.