enCore Energy Corp. (NASDAQ:EU) Sees Significant Growth in Short Interest

enCore Energy Corp. (NASDAQ:EU - Get Free Report) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 8,330,000 shares, an increase of 6.0% from the November 30th total of 7,860,000 shares. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is currently 6.7 days. Currently, 4.7% of the company's shares are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of enCore Energy by 19.6% in the 2nd quarter. Principal Financial Group Inc. now owns 22,317 shares of the company's stock valued at $88,000 after acquiring an additional 3,652 shares during the period. JPMorgan Chase & Co. boosted its position in enCore Energy by 6.7% during the third quarter. JPMorgan Chase & Co. now owns 81,173 shares of the company's stock valued at $328,000 after purchasing an additional 5,067 shares in the last quarter. Arlington Capital Management Inc. grew its stake in enCore Energy by 2.6% in the third quarter. Arlington Capital Management Inc. now owns 222,035 shares of the company's stock valued at $897,000 after purchasing an additional 5,655 shares during the last quarter. Rathbones Group PLC purchased a new position in enCore Energy in the second quarter valued at about $39,000. Finally, Xponance Inc. bought a new position in enCore Energy in the second quarter worth about $43,000. 20.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

enCore Energy Trading Up 0.9 %

Shares of enCore Energy stock traded up $0.03 during trading on Wednesday, hitting $3.41. 1,636,729 shares of the stock traded hands, compared to its average volume of 1,229,049. The stock's fifty day simple moving average is $3.62 and its 200 day simple moving average is $3.75. The firm has a market cap of $634.65 million, a P/E ratio of -12.18 and a beta of -0.04. enCore Energy has a 52-week low of $3.02 and a 52-week high of $5.05.

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.