enCore Energy (NASDAQ:EU) Shares Down 6.1% – Here’s What Happened

enCore Energy Corp. (NASDAQ:EU) shares fell 6.1% on Wednesday . The stock traded as low as $4.02 and last traded at $4.03. 325,931 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,223,794 shares. The stock had previously closed at $4.29.

Analyst Ratings Changes

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

enCore Energy Stock Performance

The business’s fifty day simple moving average is $3.77 and its 200-day simple moving average is $4.06. The firm has a market capitalization of $735.77 million, a PE ratio of -31.23 and a beta of -0.02.

enCore Energy (NASDAQ:EU) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The business had revenue of $5.32 million for the quarter, compared to the consensus estimate of $13.10 million. Sell-side analysts expect that enCore Energy Corp. will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of enCore Energy

Several hedge funds have recently modified their holdings of EU. Rathbones Group PLC purchased a new stake in shares of enCore Energy during the 2nd quarter valued at about $39,000. Xponance Inc. purchased a new stake in enCore Energy during the second quarter valued at approximately $43,000. Sei Investments Co. bought a new stake in shares of enCore Energy in the 2nd quarter valued at approximately $46,000. Virtu Financial LLC purchased a new position in shares of enCore Energy in the 1st quarter worth approximately $84,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of enCore Energy during the 1st quarter valued at approximately $83,000. 20.86% of the stock is owned by hedge funds and other institutional investors.

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.