Stock Traders Buy High Volume of Call Options on enCore Energy (NASDAQ:EU)

enCore Energy Corp. (NASDAQ:EU) saw unusually large options trading activity on Wednesday. Traders purchased 3,102 call options on the company. This is an increase of approximately 63% compared to the average volume of 1,902 call options.

Hedge Funds Weigh In On enCore Energy

Hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. purchased a new position in shares of enCore Energy in the second quarter worth $29,000. Ballentine Partners LLC purchased a new position in shares of enCore Energy in the second quarter worth $29,000. Vanguard Personalized Indexing Management LLC purchased a new stake in enCore Energy during the second quarter valued at $35,000. Tower Research Capital LLC TRC raised its stake in enCore Energy by 88.0% during the second quarter. Tower Research Capital LLC TRC now owns 16,105 shares of the company’s stock valued at $46,000 after purchasing an additional 7,540 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in enCore Energy by 64.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,000 shares of the company’s stock valued at $27,000 after purchasing an additional 7,461 shares in the last quarter. Hedge funds and other institutional investors own 20.86% of the company’s stock.

enCore Energy Stock Performance

EU stock opened at $3.12 on Thursday. enCore Energy has a one year low of $1.01 and a one year high of $4.44. The company’s fifty day moving average price is $2.63 and its 200-day moving average price is $2.13. The company has a market capitalization of $583.75 million, a PE ratio of -8.91 and a beta of 1.84.

enCore Energy (NASDAQ:EU) last released its earnings results on Monday, August 11th. The company reported ($0.07) EPS for the quarter. enCore Energy had a negative return on equity of 19.23% and a negative net margin of 143.28%.The company had revenue of $3.66 million during the quarter. On average, research analysts predict that enCore Energy will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EU has been the topic of a number of research reports. Wall Street Zen raised shares of enCore Energy from a “sell” rating to a “hold” rating in a report on Monday. HC Wainwright raised their price objective on shares of enCore Energy from $2.75 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Zacks Research upgraded shares of enCore Energy to a “hold” rating in a research report on Tuesday, August 12th. Finally, B. Riley started coverage on shares of enCore Energy in a research report on Wednesday, July 23rd. They issued a “buy” rating and a $4.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $4.00.

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.