enCore Energy (NASDAQ:EU) Stock Price Up 6.8% – Should You Buy?

enCore Energy Corp. (NASDAQ:EU)’s stock price shot up 6.8% during trading on Wednesday . The stock traded as high as $3.44 and last traded at $3.44. 576,737 shares were traded during trading, a decline of 52% from the average session volume of 1,213,831 shares. The stock had previously closed at $3.22.

Analyst Upgrades and Downgrades

EU has been the subject of several recent research reports. Ventum Cap Mkts raised enCore Energy to a “strong-buy” rating in a report on Thursday, August 22nd. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of enCore Energy in a research report on Tuesday, November 19th.

enCore Energy Price Performance

The stock has a market cap of $640.19 million, a PE ratio of -12.29 and a beta of -0.04. The firm has a 50-day moving average of $3.80 and a 200-day moving average of $3.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rathbones Group PLC purchased a new position in enCore Energy during the second quarter valued at $39,000. Xponance Inc. purchased a new position in enCore Energy during the second quarter worth about $43,000. Sei Investments Co. purchased a new position in enCore Energy during the second quarter worth about $46,000. Franklin Resources Inc. purchased a new position in enCore Energy during the third quarter worth about $60,000. Finally, Principal Financial Group Inc. raised its stake in enCore Energy by 19.6% during the second quarter. Principal Financial Group Inc. now owns 22,317 shares of the company’s stock worth $88,000 after purchasing an additional 3,652 shares during the period. Hedge funds and other institutional investors own 20.86% of the company’s stock.

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.