enCore Energy (NASDAQ:EU) Sees Strong Trading Volume – Here’s Why

enCore Energy Corp. (NASDAQ:EU) shares saw strong trading volume on Thursday . 1,042,366 shares traded hands during mid-day trading, a decline of 15% from the previous session’s volume of 1,229,049 shares.The stock last traded at $3.54 and had previously closed at $3.41.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of enCore Energy in a report on Tuesday, November 19th.

enCore Energy Price Performance

The business’s 50-day moving average price is $3.62 and its 200 day moving average price is $3.75. The firm has a market capitalization of $679.32 million, a price-to-earnings ratio of -13.04 and a beta of -0.04.

Hedge Funds Weigh In On enCore Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rathbones Group PLC bought a new stake in enCore Energy during the second quarter worth approximately $39,000. Xponance Inc. purchased a new stake in shares of enCore Energy during the second quarter valued at $43,000. Sei Investments Co. purchased a new position in enCore Energy in the 2nd quarter worth about $46,000. Franklin Resources Inc. acquired a new stake in enCore Energy during the 3rd quarter worth about $60,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of 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 buying an additional 3,652 shares during the period. 20.86% of the stock is currently owned by institutional investors and hedge funds.

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.