enCore Energy Corp. (NASDAQ:EU) Sees Large Growth in Short Interest

enCore Energy Corp. (NASDAQ:EU) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 8,330,000 shares, a growth of 6.0% from the November 30th total of 7,860,000 shares. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is presently 6.7 days. Currently, 4.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of enCore Energy in a research report on Tuesday, November 19th.

enCore Energy Stock Performance

Shares of EU stock opened at $3.41 on Thursday. enCore Energy has a fifty-two week low of $3.02 and a fifty-two week high of $5.05. The company has a market cap of $634.65 million, a PE ratio of -12.18 and a beta of -0.04. The stock’s fifty day moving average price is $3.62 and its two-hundred day moving average price is $3.75.

Hedge Funds Weigh In On enCore Energy

A number of institutional investors have recently added to or reduced their stakes in EU. Rathbones Group PLC bought a new position in enCore Energy in the second quarter valued at about $39,000. Xponance Inc. acquired a new position in shares of enCore Energy in the second quarter valued at approximately $43,000. Sei Investments Co. bought a new position in enCore Energy in the 2nd quarter valued at approximately $46,000. Franklin Resources Inc. bought a new position in enCore Energy in the 3rd quarter valued at approximately $60,000. Finally, Principal Financial Group Inc. boosted its position in enCore Energy by 19.6% during the 2nd quarter. Principal Financial Group Inc. now owns 22,317 shares of the company’s stock worth $88,000 after buying an additional 3,652 shares during the period. 20.86% of the stock is currently owned by institutional investors and hedge funds.

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.