enCore Energy (NASDAQ:EU) Shares Down 6.1% – What’s Next?

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

Wall Street Analysts Forecast Growth

EU has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of enCore Energy in a research report 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 Down 7.0 %

The stock has a 50-day moving average of $3.77 and a 200 day moving average of $4.06. The company 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 released its quarterly earnings data 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 company had revenue of $5.32 million during the quarter, compared to the consensus estimate of $13.10 million. Equities analysts forecast that enCore Energy Corp. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On enCore Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Azarias Capital Management L.P. raised its holdings in enCore Energy by 232.0% in the 1st quarter. Azarias Capital Management L.P. now owns 3,758,493 shares of the company’s stock worth $18,013,000 after purchasing an additional 2,626,395 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of enCore Energy by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 922,691 shares of the company’s stock worth $4,041,000 after acquiring an additional 249,307 shares during the period. Van ECK Associates Corp purchased a new position in shares of enCore Energy in the 1st quarter valued at approximately $3,399,000. Natixis bought a new stake in shares of enCore Energy during the first quarter valued at approximately $576,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in enCore Energy in the first quarter worth $83,000. 20.86% of the stock is currently owned by 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.