enCore Energy (NASDAQ:EU) Shares Gap Down – What’s Next?

enCore Energy Corp. (NASDAQ:EU)’s share price gapped down before the market opened on Monday . The stock had previously closed at $4.40, but opened at $4.27. enCore Energy shares last traded at $4.26, with a volume of 602,603 shares.

Analysts Set New Price Targets

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

enCore Energy Trading Down 2.3 %

The stock’s 50 day moving average price is $3.73 and its two-hundred day moving average price is $4.06. The firm has a market capitalization of $792.94 million, a price-to-earnings ratio of -33.08 and a beta of -0.02.

enCore Energy (NASDAQ:EU) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The company had revenue of $5.32 million for the quarter, compared to analysts’ expectations of $13.10 million. On average, sell-side analysts forecast that enCore Energy Corp. will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of enCore Energy

Several large investors have recently bought and sold shares of EU. Azarias Capital Management L.P. lifted its stake in enCore Energy by 232.0% in the 1st quarter. Azarias Capital Management L.P. now owns 3,758,493 shares of the company’s stock valued at $18,013,000 after buying an additional 2,626,395 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of enCore Energy by 37.0% during the first quarter. Vanguard Group Inc. now owns 922,691 shares of the company’s stock valued at $4,041,000 after acquiring an additional 249,307 shares during the last quarter. Van ECK Associates Corp purchased a new stake in enCore Energy during the 1st quarter worth about $3,399,000. Natixis purchased a new position in enCore Energy in the 1st quarter valued at about $576,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of enCore Energy during the 1st quarter worth about $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.