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

enCore Energy (NASDAQ:EU)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $2.75 price target on the stock. HC Wainwright’s target price points to a potential upside of 57.14% from the company’s previous close.

enCore Energy Trading Up 2.3%

NASDAQ:EU opened at $1.75 on Tuesday. The company has a market capitalization of $326.70 million, a P/E ratio of -6.25 and a beta of 1.19. The firm has a 50-day moving average price of $1.45 and a two-hundred day moving average price of $2.66. enCore Energy has a twelve month low of $1.01 and a twelve month high of $4.96.

enCore Energy (NASDAQ:EU) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The firm had revenue of $18.24 million for the quarter, compared to analyst estimates of $15.10 million. On average, equities research analysts predict that enCore Energy will post -0.2 earnings per share for the current year.

Insider Activity

In other news, Chairman William M. Sheriff acquired 40,000 shares of enCore Energy stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average price of $1.21 per share, with a total value of $48,400.00. Following the completion of the purchase, the chairman now owns 2,310,055 shares of the company’s stock, valued at approximately $2,795,166.55. This represents a 1.76% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EU. Tidal Investments LLC increased its stake in enCore Energy by 48.7% in the third quarter. Tidal Investments LLC now owns 38,697 shares of the company’s stock valued at $156,000 after purchasing an additional 12,672 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of enCore Energy by 6.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 81,173 shares of the company’s stock valued at $328,000 after acquiring an additional 5,067 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of enCore Energy by 10.2% during the 4th quarter. SG Americas Securities LLC now owns 113,517 shares of the company’s stock worth $387,000 after acquiring an additional 10,469 shares during the period. Savant Capital LLC acquired a new stake in shares of enCore Energy in the fourth quarter worth approximately $36,000. Finally, Van ECK Associates Corp grew its holdings in enCore Energy by 79.8% in the fourth quarter. Van ECK Associates Corp now owns 4,378,073 shares of the company’s stock valued at $14,929,000 after purchasing an additional 1,943,731 shares during the period. 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.