enCore Energy (NASDAQ:EU) Shares Gap Up – Still a Buy?

Shares of enCore Energy Corp. (NASDAQ:EU) gapped up before the market opened on Thursday . The stock had previously closed at $3.25, but opened at $3.40. enCore Energy shares last traded at $3.31, with a volume of 147,510 shares trading hands.

Wall Street Analysts Forecast Growth

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

enCore Energy Stock Up 1.2 %

The stock has a market capitalization of $612.27 million, a PE ratio of -11.75 and a beta of -0.04. The stock has a fifty day moving average of $3.78 and a 200-day moving average of $3.81.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EU. Verition Fund Management LLC acquired a new position in enCore Energy in the 3rd quarter valued at $96,000. Van ECK Associates Corp lifted its position in shares of enCore Energy by 89.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,434,342 shares of the company’s stock worth $9,762,000 after buying an additional 1,148,056 shares during the period. Azarias Capital Management L.P. grew its holdings in shares of enCore Energy by 28.1% during the second 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 during the last quarter. American Century Companies Inc. acquired a new stake in enCore Energy in the 2nd quarter valued at about $179,000. Finally, National Bank of Canada FI bought a new position in enCore Energy in the third quarter valued at about $832,000. 20.86% of the stock is owned by institutional investors and hedge funds.

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.