enCore Energy (NASDAQ:EU) Trading Up 8.7% – Here’s What Happened

enCore Energy Corp. (NASDAQ:EU) shares rose 8.7% on Friday . The stock traded as high as $1.2550 and last traded at $1.25. 3,610,154 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 2,942,650 shares. The stock had previously closed at $1.15.

Analysts Set New Price Targets

Several research firms have recently commented on EU. Weiss Ratings raised enCore Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Northland Securities set a $3.75 target price on enCore Energy in a research report on Monday, May 18th. Wall Street Zen upgraded shares of enCore Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. HC Wainwright decreased their price target on shares of enCore Energy from $4.00 to $3.75 and set a “buy” rating on the stock in a research note on Friday, May 15th. Finally, Zacks Research lowered enCore Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.75.

enCore Energy Price Performance

The company has a market capitalization of $242.85 million, a PE ratio of -8.33 and a beta of 2.10. The company has a quick ratio of 10.25, a current ratio of 11.08 and a debt-to-equity ratio of 0.39. The firm’s 50 day simple moving average is $1.33 and its 200 day simple moving average is $1.88.

Insiders Place Their Bets

In other enCore Energy news, Chairman William M. Sheriff acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average price of $1.49 per share, for a total transaction of $74,500.00. Following the acquisition, the chairman directly owned 1,387,169 shares in the company, valued at $2,066,881.81. The trade was a 3.74% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark S. Pelizza purchased 99,182 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $1.37 per share, for a total transaction of $135,879.34. Following the completion of the acquisition, the director owned 237,515 shares of the company’s stock, valued at approximately $325,395.55. The trade was a 71.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 259,905 shares of company stock worth $362,534 in the last 90 days. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On enCore Energy

A number of institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. bought a new position in enCore Energy in the fourth quarter worth approximately $2,379,000. Azarias Capital Management L.P. grew its position in shares of enCore Energy by 22.6% during the 1st quarter. Azarias Capital Management L.P. now owns 5,067,708 shares of the company’s stock worth $9,122,000 after buying an additional 934,857 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of enCore Energy during the fourth quarter valued at $1,009,000. GeoSphere Capital Management LLC raised its holdings in shares of enCore Energy by 333.3% in the fourth quarter. GeoSphere Capital Management LLC now owns 1,300,000 shares of the company’s stock valued at $3,224,000 after acquiring an additional 1,000,000 shares in the last quarter. Finally, Krilogy Financial LLC purchased a new stake in enCore Energy in the first quarter worth about $36,000. 20.86% of the stock is owned by hedge funds and other institutional investors.

About enCore Energy

enCore Energy Inc is a U.S.-based uranium exploration and development company focused on deploying in-situ recovery (ISR) technology to bring domestic uranium projects into production. The company’s operations are centered on the Nichols Ranch ISR facility in Wyoming, which represents enCore’s flagship asset and its nearest-term production opportunity. Through ISR methods, enCore seeks to extract uranium with lower environmental impact and capital requirements relative to conventional mining.

In addition to Nichols Ranch, enCore holds a diversified portfolio of uranium properties in the western United States, including the Roca Honda project in New Mexico and several ISR-amenable projects in the Texas and Oklahoma regions.