HC Wainwright Reiterates “Buy” Rating for enCore Energy (NASDAQ:EU)

HC Wainwright reaffirmed their buy rating on shares of enCore Energy (NASDAQ:EU) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $7.00 target price on the stock. HC Wainwright also issued estimates for enCore Energy’s FY2024 earnings at ($0.20) EPS.

Separately, Ventum Cap Mkts raised shares of enCore Energy to a “strong-buy” rating in a report on Thursday, August 22nd.

enCore Energy Price Performance

EU opened at $3.85 on Tuesday. The stock has a 50-day moving average price of $3.95 and a 200-day moving average price of $3.97. The firm has a market cap of $716.24 million, a PE ratio of -13.75 and a beta of 0.05. enCore Energy has a 1 year low of $3.02 and a 1 year high of $5.05.

Hedge Funds Weigh In On enCore Energy

A number of hedge funds and other institutional investors have recently modified their holdings of EU. Rathbones Group PLC purchased a new position in shares of enCore Energy in the 2nd quarter worth $39,000. Xponance Inc. purchased a new position in enCore Energy during the second quarter valued at approximately $43,000. Sei Investments Co. bought a new stake in enCore Energy during the second quarter valued at about $46,000. Virtu Financial LLC acquired a new stake in enCore Energy in the first quarter valued at approximately $84,000. Finally, Principal Financial Group Inc. boosted its holdings in enCore Energy by 19.6% in the second quarter. Principal Financial Group Inc. now owns 22,317 shares of the company’s stock worth $88,000 after acquiring an additional 3,652 shares in the last quarter. Institutional investors own 20.86% of the company’s stock.

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.