enCore Energy (NASDAQ:EU) Shares Gap Up – Still a Buy?

enCore Energy Corp. (NASDAQ:EU)’s share price gapped up before the market opened on Monday . The stock had previously closed at $3.71, but opened at $3.90. enCore Energy shares last traded at $3.78, with a volume of 125,757 shares traded.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of enCore Energy in a report on Tuesday, November 19th. Ventum Cap Mkts raised shares of enCore Energy to a “strong-buy” rating in a research note on Thursday, August 22nd.

enCore Energy Stock Down 3.5 %

The company has a 50 day simple moving average of $3.94 and a 200 day simple moving average of $3.91. The company has a market capitalization of $671.78 million, a price-to-earnings ratio of -12.89 and a beta of -0.04.

Institutional Trading of enCore Energy

A number of hedge funds have recently made changes to their positions in the company. Rathbones Group PLC acquired a new stake in enCore Energy during the 2nd quarter valued at approximately $39,000. Xponance Inc. acquired a new stake in enCore Energy in the second quarter valued at $43,000. Sei Investments Co. bought a new position in enCore Energy during the 2nd quarter valued at $46,000. Franklin Resources Inc. bought a new stake in shares of enCore Energy in the 3rd quarter worth about $60,000. Finally, Virtu Financial LLC acquired a new stake in shares of enCore Energy in the 1st quarter valued at about $84,000. Hedge funds and other institutional investors 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.