enCore Energy (NASDAQ:EU) Shares Gap Up - What's Next?

Shares of enCore Energy Corp. (NASDAQ:EU - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $3.25, but opened at $3.40. enCore Energy shares last traded at $3.31, with a volume of 147,510 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EU shares. HC Wainwright reissued a "buy" rating and set a $7.00 price objective on shares of enCore Energy in a research report on Tuesday, November 19th. Ventum Cap Mkts upgraded shares of enCore Energy to a "strong-buy" rating in a research report on Thursday, August 22nd.

enCore Energy Trading Up 4.0 %

The stock has a market capitalization of $629.02 million, a price-to-earnings ratio of -12.07 and a beta of -0.04. The company's 50 day moving average is $3.77 and its 200 day moving average is $3.81.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EU. Principal Financial Group Inc. raised its stake in shares of enCore Energy by 19.6% during the second quarter. Principal Financial Group Inc. now owns 22,317 shares of the company's stock worth $88,000 after purchasing an additional 3,652 shares during the last quarter. Arlington Capital Management Inc. raised its position in enCore Energy by 2.6% during the 3rd quarter. Arlington Capital Management Inc. now owns 222,035 shares of the company's stock worth $897,000 after buying an additional 5,655 shares during the last quarter. Rathbones Group PLC acquired a new stake in shares of enCore Energy in the 2nd quarter worth $39,000. Xponance Inc. purchased a new stake in shares of enCore Energy in the second quarter valued at about $43,000. Finally, Sei Investments Co. acquired a new position in shares of enCore Energy during the second quarter worth about $46,000. 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.