HC Wainwright Cuts enCore Energy (NASDAQ:EU) Price Target to $2.75

enCore Energy (NASDAQ:EU) had its price target cut by research analysts at HC Wainwright from $7.00 to $2.75 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 78.57% from the stock’s current price.

enCore Energy Stock Up 6.2 %

NASDAQ:EU opened at $1.54 on Tuesday. enCore Energy has a twelve month low of $1.26 and a twelve month high of $5.05. The firm has a market capitalization of $286.84 million, a price-to-earnings ratio of -5.50 and a beta of 0.38. The stock’s 50 day moving average price is $2.75 and its two-hundred day moving average price is $3.39.

enCore Energy (NASDAQ:EU) last issued its earnings results on Monday, March 3rd. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The company had revenue of $13.36 million for the quarter, compared to analyst estimates of $14.30 million. As a group, analysts anticipate that enCore Energy will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of enCore Energy

A number of hedge funds have recently modified their holdings of EU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in enCore Energy by 1.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,702,287 shares of the company’s stock valued at $42,839,000 after acquiring an additional 165,082 shares during the period. Azarias Capital Management L.P. grew its position in shares of 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 in the last quarter. Van ECK Associates Corp increased its stake in enCore Energy by 79.8% during the 4th quarter. Van ECK Associates Corp now owns 4,378,073 shares of the company’s stock worth $14,929,000 after acquiring an additional 1,943,731 shares during the period. Invesco Ltd. raised its stake in enCore Energy by 3.9% in the fourth quarter. Invesco Ltd. now owns 3,873,993 shares of the company’s stock valued at $13,210,000 after purchasing an additional 145,459 shares in the last quarter. Finally, State Street Corp raised its position in shares of enCore Energy by 3.5% in the 3rd quarter. State Street Corp now owns 3,085,686 shares of the company’s stock valued at $12,466,000 after buying an additional 105,685 shares in the last quarter. Institutional investors and hedge funds 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.