enCore Energy (NASDAQ:EU) Rating Lowered to “Speculative Buy” at Canaccord Genuity Group

enCore Energy (NASDAQ:EU) was downgraded by analysts at Canaccord Genuity Group from a “buy” rating to a “speculative buy” rating in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a C$1.50 target price on the stock.

EU has been the topic of several other reports. Weiss Ratings lowered shares of enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. B. Riley Financial reissued a “buy” rating on shares of enCore Energy in a research note on Wednesday, October 28th. Wall Street Zen lowered shares of enCore Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 26th. Jefferies Financial Group assumed coverage on enCore Energy in a report on Thursday, September 3rd. They issued a “buy” rating and a $1.44 price objective on the stock. Finally, HC Wainwright lowered their price objective on enCore Energy to $1.50 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2.23.

enCore Energy Trading Down 0.6%

Shares of EU stock traded down $0.00 on Friday, hitting $0.54. 1,499,605 shares of the stock traded hands, compared to its average volume of 3,636,288. The firm’s 50-day moving average price is $0.93 and its two-hundred day moving average price is $1.55. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.84 and a current ratio of 8.00. The stock has a market capitalization of $104.88 million, a PE ratio of -1.62 and a beta of 2.29. enCore Energy has a twelve month low of $0.53 and a twelve month high of $3.67.

enCore Energy (NASDAQ:EU) last announced its quarterly earnings data on Thursday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). enCore Energy had a negative net margin of 112.82% and a negative return on equity of 28.00%. The firm had revenue of $16.69 million during the quarter. As a group, analysts anticipate that enCore Energy will post -0.41 EPS for the current year.

Insider Transactions at enCore Energy

In other news, Chairman William Sheriff bought 100,000 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was bought at an average cost of $0.84 per share, for a total transaction of $84,000.00. Following the acquisition, the chairman directly owned 1,512,169 shares of the company’s stock, valued at $1,270,221.96. The trade was a 7.08% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan Hoxie-Key sold 30,648 shares of enCore Energy stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $0.94, for a total value of $28,809.12. Following the completion of the transaction, the director directly owned 60,918 shares of the company’s stock, valued at approximately $57,262.92. This represents a 33.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased a total of 310,000 shares of company stock valued at $262,100 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of enCore Energy

Several hedge funds have recently made changes to their positions in the business. Tidal Investments LLC acquired a new position in shares of enCore Energy in the second quarter valued at approximately $2,755,000. Bank of New York Mellon Corp acquired a new stake in enCore Energy during the 2nd quarter worth approximately $725,000. Themes Management Co LLC lifted its holdings in enCore Energy by 187.2% during the 1st quarter. Themes Management Co LLC now owns 246,624 shares of the company’s stock worth $447,000 after buying an additional 160,765 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in enCore Energy by 90.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 236,373 shares of the company’s stock valued at $310,000 after buying an additional 112,130 shares during the period. Finally, J. Derek Lewis & Associates Inc. boosted its position in enCore Energy by 82.8% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 53,000 shares of the company’s stock valued at $95,000 after buying an additional 24,000 shares during the period. Institutional investors and hedge funds own 20.86% of the company’s stock.

About enCore Energy

enCore Energy Corp. is a U.S. uranium company focused on producing uranium for the nuclear fuel industry. The company uses in-situ recovery (ISR), a method that circulates a solution through underground uranium deposits to recover the uranium without conventional open-pit or underground mining. Its portfolio includes the Rosita and Alta Mesa projects in South Texas, as well as uranium assets in other parts of the United States. The company has developed processing facilities and wellfields to support ISR production, and its product is uranium concentrate used in the nuclear fuel cycle. enCore’s focus on domestic uranium resources reflects its aim to supply U.S. utilities and other customers.