enCore Energy (NASDAQ:EU) Shares Up 6.8% - Here's Why

enCore Energy Corp. (NASDAQ:EU - Get Free Report) traded up 6.8% during trading on Wednesday . The stock traded as high as $3.44 and last traded at $3.44. 576,737 shares were traded during mid-day trading, a decline of 52% from the average session volume of 1,213,831 shares. The stock had previously closed at $3.22.

Analyst Ratings Changes

EU has been the subject of a number of research analyst reports. HC Wainwright restated a "buy" rating and issued a $7.00 price target 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 report on Thursday, August 22nd.

enCore Energy Trading Up 0.9 %

The stock's 50-day moving average is $3.78 and its 200-day moving average is $3.81. The stock has a market cap of $604.83 million, a price-to-earnings ratio of -11.61 and a beta of -0.04.

Institutional Investors Weigh In On enCore Energy

Several hedge funds have recently modified their holdings of EU. Van ECK Associates Corp increased its stake in enCore Energy by 89.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,434,342 shares of the company's stock worth $9,762,000 after buying an additional 1,148,056 shares during the period. Azarias Capital Management L.P. boosted its holdings in enCore Energy by 28.1% in the second quarter. Azarias Capital Management L.P. now owns 4,814,976 shares of the company's stock valued at $20,590,000 after purchasing an additional 1,056,483 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of enCore Energy during the third quarter worth approximately $832,000. State Street Corp grew its position in shares of enCore Energy by 3.5% during the third quarter. State Street Corp now owns 3,085,686 shares of the company's stock worth $12,466,000 after buying an additional 105,685 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC raised its holdings in enCore Energy by 10.7% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,082,548 shares of the company's stock valued at $4,265,000 after acquiring an additional 104,900 shares in the last quarter. 20.86% of the stock is currently owned by hedge funds and other institutional investors.

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.