enCore Energy (NASDAQ:EU) Stock Price Down 3.6% – Here’s What Happened

enCore Energy Corp. (NASDAQ:EU) dropped 3.6% during trading on Friday . The company traded as low as $3.79 and last traded at $3.80. Approximately 275,320 shares traded hands during trading, a decline of 77% from the average daily volume of 1,215,919 shares. The stock had previously closed at $3.94.

Analyst Ratings Changes

A number of equities analysts have recently commented on EU shares. Ventum Cap Mkts raised enCore Energy to a “strong-buy” rating in a report on Thursday, August 22nd. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of enCore Energy in a report on Tuesday.

enCore Energy Price Performance

The business has a 50 day moving average price of $3.94 and a two-hundred day moving average price of $3.97. The stock has a market cap of $690.21 million, a PE ratio of -14.07 and a beta of 0.05.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 acquiring an additional 249,307 shares in the last quarter. Natixis bought a new stake in enCore Energy during the 1st quarter valued at approximately $576,000. Van ECK Associates Corp boosted its position in shares of enCore Energy by 89.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,434,342 shares of the company’s stock worth $9,762,000 after purchasing an additional 1,148,056 shares in the last quarter. Azarias Capital Management L.P. boosted its position in shares of enCore Energy by 28.1% in the 2nd quarter. Azarias Capital Management L.P. now owns 4,814,976 shares of the company’s stock worth $20,590,000 after purchasing an additional 1,056,483 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of enCore Energy in the 2nd quarter worth approximately $179,000. 20.86% of the stock is owned by hedge funds and other institutional investors.

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.