enCore Energy (NASDAQ:EU) Shares Gap Up – Should You Buy?

enCore Energy Corp. (NASDAQ:EU)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $3.31, but opened at $3.45. enCore Energy shares last traded at $3.49, with a volume of 423,073 shares trading hands.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of enCore Energy in a report on Tuesday, November 19th.

enCore Energy Stock Down 3.5 %

The stock’s 50 day simple moving average is $3.46 and its two-hundred day simple moving average is $3.65.

Insider Activity

In other news, Director William M. Sheriff sold 24,000 shares of enCore Energy stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.55, for a total value of $85,200.00. Following the completion of the transaction, the director now owns 2,144,055 shares of the company’s stock, valued at $7,611,395.25. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Hedge Funds Weigh In On enCore Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. lifted its position in enCore Energy by 84.1% during the fourth quarter. Vontobel Holding Ltd. now owns 104,158 shares of the company’s stock worth $351,000 after acquiring an additional 47,584 shares during the last quarter. Azarias Capital Management L.P. lifted its holdings in enCore Energy by 6.8% during the 4th quarter. Azarias Capital Management L.P. now owns 5,346,013 shares of the company’s stock worth $18,230,000 after purchasing an additional 342,657 shares during the last quarter. Van ECK Associates Corp boosted its stake in enCore Energy by 79.8% in the 4th 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. Savant Capital LLC acquired a new position in enCore Energy in the 4th quarter valued at $36,000. Finally, SG Americas Securities LLC increased its position in enCore Energy by 10.2% during the 4th quarter. SG Americas Securities LLC now owns 113,517 shares of the company’s stock worth $387,000 after buying an additional 10,469 shares during the period. 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.