enCore Energy (NASDAQ:EU) Trading 6.8% Higher – What’s Next?

enCore Energy Corp. (NASDAQ:EU) was up 6.8% during trading on Wednesday . The company traded as high as $3.44 and last traded at $3.44. Approximately 576,737 shares changed hands during trading, a decline of 52% from the average daily volume of 1,213,831 shares. The stock had previously closed at $3.22.

Analyst Ratings Changes

A number of equities research analysts have commented on EU shares. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of enCore Energy in a research report on Tuesday, November 19th. Ventum Cap Mkts upgraded enCore Energy to a “strong-buy” rating in a report on Thursday, August 22nd.

enCore Energy Price Performance

The stock has a fifty day moving average price of $3.80 and a two-hundred day moving average price of $3.82. The company has a market cap of $640.19 million, a P/E ratio of -12.29 and a beta of -0.04.

Institutional Investors Weigh In On enCore Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rathbones Group PLC bought a new stake in enCore Energy during the 2nd quarter valued at $39,000. Xponance Inc. purchased a new stake in enCore Energy in the second quarter valued at approximately $43,000. Sei Investments Co. purchased a new stake in shares of enCore Energy during the second quarter worth $46,000. Franklin Resources Inc. acquired a new position in shares of enCore Energy during the third quarter worth $60,000. Finally, Principal Financial Group Inc. raised its position in enCore Energy by 19.6% during the 2nd quarter. Principal Financial Group Inc. now owns 22,317 shares of the company’s stock worth $88,000 after buying an additional 3,652 shares during the last quarter. 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.