enCore Energy (NASDAQ:EU) Stock Price Down 6.1% - What's Next?

enCore Energy Corp. (NASDAQ:EU - Get Free Report)'s share price fell 6.1% during mid-day trading on Wednesday . The stock traded as low as $4.02 and last traded at $4.03. 325,931 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,223,794 shares. The stock had previously closed at $4.29.

Analyst Ratings Changes

Several brokerages have recently issued reports on EU. Ventum Cap Mkts upgraded shares of enCore Energy to a "strong-buy" rating in a research note on Thursday, August 22nd. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of enCore Energy in a research note on Monday, October 7th.

enCore Energy Stock Down 6.5 %

The stock has a fifty day moving average of $3.79 and a 200-day moving average of $4.06. The firm has a market capitalization of $739.46 million, a P/E ratio of -30.85 and a beta of -0.02.

enCore Energy (NASDAQ:EU - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.06). The company had revenue of $5.32 million during the quarter, compared to analyst estimates of $13.10 million. As a group, analysts forecast that enCore Energy Corp. will post -0.11 EPS for the current fiscal year.

Institutional Trading of enCore Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rathbones Group PLC acquired a new position in shares of enCore Energy during the 2nd quarter worth about $39,000. Xponance Inc. acquired a new position in shares of enCore Energy during the 2nd quarter worth about $43,000. Sei Investments Co. acquired a new position in shares of enCore Energy during the 2nd quarter worth about $46,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of enCore Energy during the 1st quarter worth about $83,000. Finally, Virtu Financial LLC acquired a new position in shares of enCore Energy during the 1st quarter worth about $84,000. 20.86% of the stock is owned by institutional investors.

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.