enCore Energy Sees Unusually High Options Volume (NASDAQ:EU)

enCore Energy Corp. (NASDAQ:EU) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 3,577 call options on the company. This is an increase of 410% compared to the typical volume of 701 call options.

enCore Energy Stock Down 5.8 %

Shares of NASDAQ EU opened at $1.46 on Thursday. The business has a fifty day simple moving average of $2.50 and a 200-day simple moving average of $3.30. The company has a market cap of $271.94 million, a price-to-earnings ratio of -5.21 and a beta of 0.38. enCore Energy has a 12 month low of $1.26 and a 12 month high of $5.05.

enCore Energy (NASDAQ:EU) last announced its earnings results on Monday, March 3rd. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The business had revenue of $13.36 million for the quarter, compared to the consensus estimate of $14.30 million. As a group, sell-side analysts expect that enCore Energy will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at enCore Energy

In other news, Director William M. Sheriff sold 24,000 shares of enCore Energy stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.55, for a total value of $85,200.00. Following the transaction, the director now owns 2,144,055 shares of the company’s stock, valued at $7,611,395.25. The trade was a 1.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge Funds Weigh In On enCore Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of enCore Energy by 79.8% in the fourth quarter. Van ECK Associates Corp now owns 4,378,073 shares of the company’s stock worth $14,929,000 after buying an additional 1,943,731 shares during the period. Yaupon Capital Management LP purchased a new stake in enCore Energy in the 4th quarter worth about $3,415,000. MMCAP International Inc. SPC boosted its position in enCore Energy by 64.2% during the 4th quarter. MMCAP International Inc. SPC now owns 2,301,509 shares of the company’s stock worth $7,848,000 after acquiring an additional 899,901 shares during the period. AWM Investment Company Inc. grew its stake in enCore Energy by 118.1% during the 4th quarter. AWM Investment Company Inc. now owns 1,297,619 shares of the company’s stock valued at $4,425,000 after acquiring an additional 702,619 shares in the last quarter. Finally, Azarias Capital Management L.P. increased its holdings in shares of enCore Energy by 6.8% in the 4th quarter. Azarias Capital Management L.P. now owns 5,346,013 shares of the company’s stock valued at $18,230,000 after purchasing an additional 342,657 shares during the period. 20.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright decreased their price target on shares of enCore Energy from $7.00 to $2.75 and set a “buy” rating on the stock in a research report on Tuesday, March 18th.

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.