Short Interest in enCore Energy Corp. (NASDAQ:EU) Decreases By 7.1%

enCore Energy Corp. (NASDAQ:EU) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 4,570,000 shares, a decline of 7.1% from the September 15th total of 4,920,000 shares. Based on an average daily volume of 1,140,000 shares, the days-to-cover ratio is presently 4.0 days. Currently, 2.5% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Ventum Cap Mkts upgraded shares of 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 price target on shares of enCore Energy in a research note on Monday, October 7th.

enCore Energy Stock Up 1.0 %

EU stock traded up $0.04 during midday trading on Thursday, reaching $4.25. 1,231,612 shares of the company’s stock traded hands, compared to its average volume of 1,221,476. enCore Energy has a 1-year low of $2.98 and a 1-year high of $5.05. The company has a market cap of $783.72 million, a price-to-earnings ratio of -32.38 and a beta of -0.02. The company has a 50-day simple moving average of $3.69 and a two-hundred day simple moving average of $4.07.

enCore Energy (NASDAQ:EU) last announced its earnings results on Wednesday, August 14th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The business had revenue of $5.32 million for the quarter, compared to the consensus estimate of $13.10 million. Equities research analysts forecast that enCore Energy will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EU. Rathbones Group PLC bought a new stake in shares of enCore Energy during the second quarter worth approximately $39,000. Xponance Inc. bought a new stake in enCore Energy in the second quarter valued at about $43,000. Sei Investments Co. acquired a new position in enCore Energy in the second quarter valued at about $46,000. Virtu Financial LLC bought a new stake in shares of enCore Energy in the 1st quarter valued at about $84,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in enCore Energy during the first quarter valued at approximately $83,000. 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.