enCore Energy Corp. (NASDAQ:EU) Short Interest Up 8.3% in December

enCore Energy Corp. (NASDAQ:EU - Get Free Report) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 9,020,000 shares, an increase of 8.3% from the December 15th total of 8,330,000 shares. Based on an average daily volume of 1,310,000 shares, the days-to-cover ratio is presently 6.9 days. Currently, 5.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director William M. Sheriff sold 24,000 shares of the stock in a transaction 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 sale, the director now owns 2,144,055 shares in the company, valued at $7,611,395.25. This represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xponance Inc. purchased a new stake in enCore Energy in the 2nd quarter valued at approximately $43,000. Sei Investments Co. purchased a new position in enCore Energy in the 2nd quarter valued at about $46,000. Franklin Resources Inc. purchased a new stake in shares of enCore Energy during the third quarter worth about $60,000. Verition Fund Management LLC acquired a new position in shares of enCore Energy in the third quarter valued at approximately $96,000. Finally, Intech Investment Management LLC purchased a new position in shares of enCore Energy during the third quarter valued at approximately $110,000. 20.86% of the stock is currently owned by institutional investors and hedge funds.

enCore Energy Stock Performance

NASDAQ:EU traded up $0.04 during mid-day trading on Monday, reaching $3.32. The stock had a trading volume of 1,166,818 shares, compared to its average volume of 1,472,545. The business has a 50 day simple moving average of $3.52 and a 200 day simple moving average of $3.70. enCore Energy has a twelve month low of $3.02 and a twelve month high of $5.05. The firm has a market capitalization of $617.92 million, a price-to-earnings ratio of -11.86 and a beta of 0.14.

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.