enCore Energy (NASDAQ:EU) Shares Up 5.6% – Time to Buy?

enCore Energy Corp. (NASDAQ:EU)’s share price rose 5.6% on Tuesday . The stock traded as high as $3.51 and last traded at $3.51. Approximately 243,738 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,390,825 shares. The stock had previously closed at $3.32.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of enCore Energy in a research note on Tuesday, November 19th.

enCore Energy Stock Performance

The business has a fifty day simple moving average of $3.52 and a 200 day simple moving average of $3.70. The stock has a market cap of $641.18 million, a price-to-earnings ratio of -12.23 and a beta of 0.14.

Insiders Place Their Bets

In related news, Director William M. Sheriff sold 24,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.55, for a total transaction of $85,200.00. Following the completion of the transaction, the director now owns 2,144,055 shares of the company’s stock, valued at approximately $7,611,395.25. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On enCore Energy

Several large investors have recently made changes to their positions in the business. Xponance Inc. acquired a new position in shares of enCore Energy during the second quarter worth $43,000. Sei Investments Co. acquired a new position in enCore Energy in the 2nd quarter worth $46,000. Franklin Resources Inc. purchased a new position in enCore Energy in the 3rd quarter valued at about $60,000. Verition Fund Management LLC acquired a new stake in shares of enCore Energy during the third quarter valued at about $96,000. Finally, Intech Investment Management LLC purchased a new stake in shares of enCore Energy during the third quarter worth about $110,000. Institutional investors and hedge funds 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.