enCore Energy (NASDAQ:EU) Stock Price Down 4.6% - Here's Why

enCore Energy Corp. (NASDAQ:EU - Get Free Report)'s share price was down 4.6% on Friday . The stock traded as low as $3.51 and last traded at $3.53. Approximately 437,620 shares changed hands during trading, a decline of 75% from the average daily volume of 1,774,027 shares. The stock had previously closed at $3.70.

Wall Street Analysts Forecast Growth

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

enCore Energy Price Performance

The business's 50 day simple moving average is $3.60 and its 200 day simple moving average is $3.74. The company has a market capitalization of $668.15 million, a PE ratio of -12.82 and a beta of -0.04.

Hedge Funds Weigh In On enCore Energy

Several large investors have recently modified their holdings of the business. Van ECK Associates Corp increased its holdings in enCore Energy by 89.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,434,342 shares of the company's stock valued at $9,762,000 after purchasing an additional 1,148,056 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of enCore Energy during the third quarter worth $832,000. State Street Corp grew its stake in shares of enCore Energy by 3.5% in the third quarter. State Street Corp now owns 3,085,686 shares of the company's stock valued at $12,466,000 after buying an additional 105,685 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its holdings in shares of enCore Energy by 10.7% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,082,548 shares of the company's stock valued at $4,265,000 after buying an additional 104,900 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in enCore Energy by 22.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 515,641 shares of the company's stock worth $2,032,000 after acquiring an additional 95,925 shares in the last quarter. Institutional investors and hedge funds own 20.86% of the company's stock.

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.