HC Wainwright Has Lowered Expectations for enCore Energy (NASDAQ:EU) Stock Price

enCore Energy (NASDAQ:EU - Get Free Report) had its price objective cut by research analysts at HC Wainwright from $7.00 to $2.75 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price would indicate a potential upside of 66.67% from the stock's current price. HC Wainwright also issued estimates for enCore Energy's FY2025 earnings at ($0.33) EPS.

enCore Energy Price Performance

EU traded down $0.01 during midday trading on Tuesday, reaching $1.65. 2,602,404 shares of the company's stock were exchanged, compared to its average volume of 1,388,121. The stock has a market capitalization of $307.33 million, a PE ratio of -5.89 and a beta of 0.38. The business's 50-day moving average price is $2.61 and its 200 day moving average price is $3.34. enCore Energy has a 1-year low of $1.26 and a 1-year high of $5.05.

enCore Energy (NASDAQ:EU - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The business had revenue of $13.36 million for the quarter, compared to the consensus estimate of $14.30 million. As a group, analysts expect that enCore Energy will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman William M. Sheriff sold 24,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $3.20, for a total value of $76,800.00. Following the completion of the transaction, the chairman now owns 2,120,055 shares of the company's stock, valued at $6,784,176. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On enCore Energy

A number of institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of enCore Energy by 1.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,702,287 shares of the company's stock valued at $42,839,000 after buying an additional 165,082 shares during the last quarter. Azarias Capital Management L.P. grew its holdings in enCore Energy by 6.8% in the fourth quarter. Azarias Capital Management L.P. now owns 5,346,013 shares of the company's stock valued at $18,230,000 after purchasing an additional 342,657 shares during the period. Van ECK Associates Corp grew its holdings in enCore Energy by 79.8% in the fourth quarter. Van ECK Associates Corp now owns 4,378,073 shares of the company's stock valued at $14,929,000 after purchasing an additional 1,943,731 shares during the period. Invesco Ltd. grew its holdings in enCore Energy by 3.9% in the fourth quarter. Invesco Ltd. now owns 3,873,993 shares of the company's stock valued at $13,210,000 after purchasing an additional 145,459 shares during the period. Finally, State Street Corp grew its holdings in 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 purchasing an additional 105,685 shares during the period. Institutional investors and hedge funds own 20.86% of the company's stock.

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.