enCore Energy (NASDAQ:EU) Shares Down 10.2% After Insider Selling

Shares of enCore Energy Corp. (NASDAQ:EU) dropped 10.2% during trading on Thursday after an insider sold shares in the company. The company traded as low as $3.66 and last traded at $3.66. Approximately 4,940,593 shares traded hands during trading, an increase of 64% from the average daily volume of 3,020,912 shares. The stock had previously closed at $4.07.

Specifically, Director Dennis Stover sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $3.54, for a total value of $70,800.00. Following the sale, the director owned 468,500 shares of the company’s stock, valued at approximately $1,658,490. This trade represents a 4.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

EU has been the topic of several recent research reports. HC Wainwright raised their price target on enCore Energy from $2.75 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Zacks Research raised enCore Energy to a “hold” rating in a report on Tuesday, August 12th. B. Riley assumed coverage on enCore Energy in a report on Wednesday, July 23rd. They issued a “buy” rating and a $4.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of enCore Energy in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded enCore Energy from a “sell” rating to a “hold” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

enCore Energy Trading Down 13.8%

The stock has a market capitalization of $656.72 million, a price-to-earnings ratio of -10.03 and a beta of 1.98. The firm has a 50-day moving average of $2.80 and a 200 day moving average of $2.34.

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

Hedge Funds Weigh In On enCore Energy

Several hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. increased its position in shares of enCore Energy by 25.1% during the 2nd quarter. Raymond James Financial Inc. now owns 19,968 shares of the company’s stock valued at $57,000 after purchasing an additional 4,000 shares during the period. Farther Finance Advisors LLC increased its position in shares of enCore Energy by 222.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,405 shares of the company’s stock valued at $27,000 after purchasing an additional 5,797 shares during the period. Bank of Montreal Can increased its position in shares of enCore Energy by 35.6% during the 2nd quarter. Bank of Montreal Can now owns 25,406 shares of the company’s stock valued at $73,000 after purchasing an additional 6,666 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of enCore Energy by 64.7% during the 1st 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 during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of enCore Energy by 88.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 16,105 shares of the company’s stock worth $46,000 after acquiring an additional 7,540 shares in the last quarter. 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.