enCore Energy (NASDAQ:EU) Cut to Strong Sell at Zacks Research

enCore Energy (NASDAQ:EU) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on EU. Wall Street Zen raised enCore Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Northland Securities set a $3.75 target price on shares of enCore Energy in a research note on Monday, May 18th. Weiss Ratings upgraded shares of enCore Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Finally, HC Wainwright reduced their price target on shares of enCore Energy from $4.00 to $3.75 and set a “buy” rating on the stock in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, enCore Energy has a consensus rating of “Moderate Buy” and a consensus price target of $3.83.

enCore Energy Price Performance

NASDAQ:EU opened at $1.22 on Tuesday. enCore Energy has a 52 week low of $1.18 and a 52 week high of $4.18. The company has a quick ratio of 10.25, a current ratio of 11.08 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $236.99 million, a P/E ratio of -8.13 and a beta of 2.06. The stock’s fifty day moving average is $1.46 and its two-hundred day moving average is $2.07.

Insider Buying and Selling

In other news, Director Mark S. Pelizza bought 99,182 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $1.37 per share, for a total transaction of $135,879.34. Following the completion of the purchase, the director owned 237,515 shares of the company’s stock, valued at approximately $325,395.55. This represents a 71.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard H. Little purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $1.28 per share, with a total value of $64,000.00. Following the purchase, the chief executive officer directly owned 50,000 shares of the company’s stock, valued at $64,000. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 259,905 shares of company stock valued at $362,534. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On enCore Energy

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its stake in shares of enCore Energy by 192.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 8,137 shares of the company’s stock worth $26,000 after purchasing an additional 5,356 shares in the last quarter. Osaic Holdings Inc. acquired a new stake in enCore Energy in the second quarter valued at $29,000. Arax Advisory Partners raised its stake in enCore Energy by 898.7% in the fourth quarter. Arax Advisory Partners now owns 11,545 shares of the company’s stock valued at $29,000 after buying an additional 10,389 shares in the last quarter. Laurion Capital Management LP purchased a new stake in enCore Energy during the 4th quarter worth about $29,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in enCore Energy during the 4th quarter worth about $32,000. 20.86% of the stock is owned by hedge funds and other institutional investors.

enCore Energy Company Profile

enCore Energy Inc is a U.S.-based uranium exploration and development company focused on deploying in-situ recovery (ISR) technology to bring domestic uranium projects into production. The company’s operations are centered on the Nichols Ranch ISR facility in Wyoming, which represents enCore’s flagship asset and its nearest-term production opportunity. Through ISR methods, enCore seeks to extract uranium with lower environmental impact and capital requirements relative to conventional mining.

In addition to Nichols Ranch, enCore holds a diversified portfolio of uranium properties in the western United States, including the Roca Honda project in New Mexico and several ISR-amenable projects in the Texas and Oklahoma regions.