enCore Energy (NASDAQ:EU) Stock Rating Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of enCore Energy (NASDAQ:EU) from a hold rating to a strong sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Zacks Research cut shares of enCore Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. HC Wainwright dropped their price objective on shares of enCore Energy from $3.75 to $3.50 and set a “buy” rating on the stock in a research note on Friday, August 14th. Weiss Ratings cut shares of enCore Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. Finally, Jefferies Financial Group initiated coverage on shares of enCore Energy in a report on Thursday, September 3rd. They set a “buy” rating and a $1.44 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, enCore Energy has an average rating of “Hold” and a consensus price target of $2.90.

enCore Energy Trading Up 1.6%

EU opened at $1.24 on Friday. The stock has a market cap of $240.91 million, a PE ratio of -3.76 and a beta of 2.13. The company has a quick ratio of 6.84, a current ratio of 8.00 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $1.17 and a 200-day moving average of $1.49. enCore Energy has a 52 week low of $0.77 and a 52 week high of $4.18.

enCore Energy (NASDAQ:EU) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.11). The firm had revenue of $15.70 million during the quarter. enCore Energy had a negative return on equity of 28.00% and a negative net margin of 112.82%. Equities research analysts predict that enCore Energy will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at enCore Energy

In other news, Chairman William Sheriff acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average cost of $0.84 per share, with a total value of $84,000.00. Following the transaction, the chairman owned 1,512,169 shares of the company’s stock, valued at $1,270,221.96. This trade represents a 7.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have bought 310,000 shares of company stock valued at $262,100. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Tidal Investments LLC bought a new stake in shares of enCore Energy during the second quarter valued at approximately $2,755,000. Bank of New York Mellon Corp bought a new position in enCore Energy in the 2nd quarter valued at approximately $725,000. Hennion & Walsh Asset Management Inc. lifted its position in enCore Energy by 90.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 236,373 shares of the company’s stock valued at $310,000 after acquiring an additional 112,130 shares in the last quarter. Rathbones Group PLC purchased a new stake in enCore Energy during the 1st quarter valued at $63,000. Finally, J. Derek Lewis & Associates Inc. increased its holdings in shares of enCore Energy by 82.8% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 53,000 shares of the company’s stock worth $95,000 after purchasing an additional 24,000 shares in the last quarter. 20.86% of the stock is owned by hedge funds and other institutional investors.

enCore Energy Company Profile

enCore Energy Corp. is a uranium exploration, development and production company focused on advancing domestic uranium resources in the United States. The company uses in-situ recovery (ISR) technology, which extracts uranium from suitable underground formations by circulating a solution through the deposit and processing the resulting uranium-bearing fluids at a recovery plant.

enCore’s portfolio includes uranium projects and production facilities in South Texas, including the Alta Mesa and Rosita projects.