enCore Energy (NASDAQ:EU) Price Target Cut to $2.75 by Analysts at HC Wainwright

enCore Energy (NASDAQ:EU) had its price target decreased by HC Wainwright from $7.00 to $2.75 in a report published on Tuesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

enCore Energy Stock Up 0.6 %

Shares of EU opened at $1.55 on Tuesday. The company has a market cap of $288.70 million, a PE ratio of -5.54 and a beta of 0.38. The business has a fifty day moving average of $2.71 and a 200 day moving average of $3.37. enCore Energy has a 52-week low of $1.26 and a 52-week high of $5.05.

enCore Energy (NASDAQ:EU) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The company had revenue of $13.36 million during the quarter, compared to the consensus estimate of $14.30 million. As a group, research analysts anticipate that enCore Energy will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other enCore Energy news, Chairman William M. Sheriff sold 24,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.20, for a total value of $76,800.00. Following the sale, the chairman now owns 2,120,055 shares in the company, valued at $6,784,176. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On enCore Energy

Several institutional investors have recently made changes to their positions in EU. Van ECK Associates Corp increased its stake in shares of enCore Energy by 79.8% during the fourth quarter. Van ECK Associates Corp now owns 4,378,073 shares of the company’s stock valued at $14,929,000 after buying an additional 1,943,731 shares during the period. Yaupon Capital Management LP purchased a new position in enCore Energy in the fourth quarter valued at about $3,415,000. MMCAP International Inc. SPC grew its stake in enCore Energy by 64.2% in the fourth quarter. MMCAP International Inc. SPC now owns 2,301,509 shares of the company’s stock valued at $7,848,000 after purchasing an additional 899,901 shares during the last quarter. AWM Investment Company Inc. grew its stake in enCore Energy by 118.1% in the fourth quarter. AWM Investment Company Inc. now owns 1,297,619 shares of the company’s stock valued at $4,425,000 after purchasing an additional 702,619 shares during the last quarter. Finally, Azarias Capital Management L.P. grew its stake in enCore Energy by 6.8% in the fourth quarter. Azarias Capital Management L.P. now owns 5,346,013 shares of the company’s stock valued at $18,230,000 after purchasing an additional 342,657 shares during the last quarter. Hedge funds and other institutional investors own 20.86% of the company’s stock.

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.