enCore Energy (NASDAQ:EU) Shares Down 6.1% - Here's What Happened

enCore Energy Corp. (NASDAQ:EU - Get Free Report) traded down 6.1% during mid-day trading on Monday . The stock traded as low as $3.57 and last traded at $3.57. 159,916 shares traded hands during trading, a decline of 87% from the average session volume of 1,207,804 shares. The stock had previously closed at $3.80.

Analyst Ratings Changes

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

enCore Energy Stock Down 3.9 %

The stock's fifty day moving average price is $3.87 and its 200-day moving average price is $4.04. The company has a market capitalization of $678.83 million, a price-to-earnings ratio of -30.00 and a beta of 0.05.

enCore Energy (NASDAQ:EU - Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company had revenue of $5.32 million during the quarter, compared to analysts' expectations of $13.10 million. Analysts anticipate that enCore Energy Corp. will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Azarias Capital Management L.P. boosted its holdings in enCore Energy by 28.1% in the 2nd 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 period. MMCAP International Inc. SPC acquired a new stake in enCore Energy during the first quarter worth approximately $11,055,000. 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 acquiring an additional 1,148,056 shares during the period. Vident Advisory LLC raised its holdings in enCore Energy by 21.3% in the 1st quarter. Vident Advisory LLC now owns 1,575,173 shares of the company's stock valued at $6,693,000 after acquiring an additional 276,211 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its position in shares of enCore Energy by 10.7% during the 2nd 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 during the period. 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.